Wednesday, January 22nd, 2025
Home »Company News » Pakistan » PSQCA net revenue grows by 30 percent during fiscal year

  • News Desk
  • Oct 28th, 2017
  • Comments Off on PSQCA net revenue grows by 30 percent during fiscal year
Pakistan Standards and Quality Control Authority's (PSQCA) net revenue grew by 30 percent or more than Rs 200 million during the fiscal year 2016-17. Its total revenue has gone up to Rs 950 million as compared to Rs 750 million during preceding financial year. The PSQCA officials said this briefing the Minister of State Mir Dostain Khan Domki and Federal Secretary Ministry of Science and Technology Yasmin Masood during their maiden visit to the PSQCA lab, here on Friday.

Officials said that main reason behind handsome earning is addition of 30 new products in the PSQCA mandatory items list. The standard body, in the first quarter of the current fiscal year has earned revenue of some Rs 270 million. It expects more earnings in next quarters as various other items including flour is likely to become part of mandatory items list of the sole national standard authority of the country.

"Of the total 14 departments working under the Ministry of Science and Technology, PSQCA is the only body to generate revenue from utilization of its own resources and licensing fee," a senior official said, adding that as many as 300 illegal factories, most of them of oil and water production units were sealed by the authority across the country in last 12 months.

The PSQCA is mandated to play proactive role for not only protection of consumers' rights but also to facilitate the industrial business to compete in the global market on the basis of standards products. PSQCA was previously mandated to check the quality of 78 items.

Mir Dostain Khan Domki hailed efforts of the PSQCA for enhancing quality culture in the country. He also asked the officials to develop standardization for all hospitals of the country. He also underscored the need of expansion of laboratories to other cities of the country where quality checking facilities are not available for citizens. The minister of state and federal secretary said that government would also consider filling 72 vacant posts in PSQCA.



the author

Top
Close
Close