Pakistan’s economy is going through testing times. Faced with multiple challenges the economy requires the determination and will power to implement greater policy correction measures and economic reforms. Pakistan has battled and survived a catastrophic earthquake, two floods and a balance of payments crisis, while being at war at one border – all during the past decade. The twin deficits, rising oil prices, the prolonged energy crisis & weak reforms continue to remain a challenge. The economy continues to remain resilient, evident in its recovery after flooding in Sindh in early FY12. Food inflation has been on a downward trend, pushing headline inflation down to single digit for the first time in two years. Despite these challenges, our outlook on FY 13 and beyond is cautiously optimistic.
Our operational strategy is centered on:
- Customer-driven business
- Strong capital and financial position
- Conservative, sound risk management
- Operational agility by maintaining cost and quality leadership
- Ethical behavior, observing the letter and the spirit of rules and regulations
Our corporate strategy focuses on agility to enhance Company’s value by means of achieving financial growth through higher profitability and financial efficiency, maintaining optimum quality, product diversification and continuously lowering our cost base.
We continue to believe that the engine for growth in Pakistan is an expanded and efficient engineering and energy sector. Notwithstanding the limited opportunities available for expansion and diversification, our strategic thrust will be to expand in the energy, food and engineering sectors organically as well as through acquisition.
With respect to the textile sector, in view of loss of our production capacity of fine count yarn in a fire incident, we seek new avenues of revenue generation. Our focus will be to develop and strengthen exports to defend our top-line. We will also undertake comprehensive upgrading and overhauling of existing plant and machinery to enhance quality and improve returns.
On the technology front, we plan to remain at the cutting edge by large scale refurbishment of our plants both in Steel and Cotton Divisions. We also plan to fully leverage our intangible assets such as knowledge and enterprise resource planning systems to increase operational agility and provide business intelligence for sound decision-making.
At CSAPL, Corporate Social Responsibility is a strategic management–driven initiative that integrates our business, environmental and citizenship activities. We take pride in supporting our community and are committed to our investment in Pakistan through strategic contributions to the education and health sectors. We remain committed to our planet and seek to implement and adopt environmentally sound processes for the conservation of energy and other resources. We believe people are our greatest asset and developing, training and retaining talent is fundamental to our operations.
At CSAPL, we are striving to attain complete alignment across functions and integration of silos. We realize that even the best-written strategic plans are only as good as their implementation, and use BSC tools for strategy execution.