In Pakistan’s challenging economic climate, where businesses often rely on subsidies and government guarantees for stability, Fast Cables stands out as an exception. As Pakistan’s largest power-cable manufacturer, the company attributes its success to a consistent strategy: staying ahead of market demand and avoiding capacity constraints that could hinder growth.
Currently, Fast Cables is expanding its production capacity, utilizing Rs3 billion raised from a significant share listing on the Pakistan Stock Exchange in May, marking one of the country’s top 10 largest initial public offerings. The company aims to triple its revenue to Rs100 billion by 2030.
While initially focused on manufacturing electrical cables and conductors, Fast Cables has diversified into metals, PVC, and lighting, both indoors and outdoors. It has also begun venturing into export markets, with plans to significantly increase its international presence in the coming years.
Kamal Mahmood Amjad Mian, the managing director of Fast Cables, highlighted the company’s strategy of continuous capacity expansion and technological upgrades. He noted that despite the current economic difficulties, Fast Cables sees significant growth potential in both domestic and export markets. The planned privatization of distribution companies is viewed as a major opportunity for growth.
Mian explained that the company’s decision to go public and raise funds was aimed at making Fast Cables more sustainable by diversifying its funding sources. He emphasized the importance of being prepared for future opportunities, even as public development spending faces cuts and domestic retail sales decline due to inflation.
Looking ahead, Fast Cables is focused on maximizing its production capacity, with a keen eye on export markets. The company recently completed a major export project, supplying over a billion rupees worth of high-voltage cables to Saudi Arabia. Fast Cables aims to earn at least 10% of its revenue from exports in the coming years.
Mian also discussed the challenges posed by current government policies, which have increased production costs through customs duties on industrial raw materials. He expressed concern that these policies are burdening the manufacturing sector, making it more expensive to produce goods and reducing cash flow.
