Chief Executive Officer, Pakistan Institute of Cost and Contracts (PICC), Engr. M Mazhar-ul Islam has said that PICC provides a single source of authentic construction cost date to prepare realistic project estimates and ensure effective tendering as well as contract administration.
Speaking at the second meeting of Engineering Science and Technology Sub-committee of Karachi Chamber of Commerce and Industry (KCCI) on Thursday, he said the use of cost date, prepared by PICC as a neutral entity, by all public and private sectors will ensure, realistic and transparent project cost estimates, timely project completion, quality construction, good governance and minimise financial losses to the national exchequer during the implementation stage.
He said that the PICC cost date, prepared by relevant professionals, cost engineers, analysts and quantity surveyors are realistic and contain price of every item related to construction inputs, and can be used to prepare realistic budget and estimates for effective tendering and contract administration and minimise losses.
Mazhar said that Pakistan Engineering Council (PEC) has taken an imitative to boost the construction sector of Pakistan by preparing and making available on web-site cost of all construction inputs updated on monthly bases. He informed that PEC has already developed a set of standard bidding and contract documents, notified by Planning Commission of Pakistan as the country-specific procurement documents.
He further said that PEC was requested by the ministry of housing and works and Public Procurement and Regulatory Authority (PPRA) to prepare a uniform schedule of rates. PICC will be the single link to provide access to the most accurate, authentic and update online construction cost data, formats and standard procedures for estimating cost to all users, not only in Pakistan but across the globe.
Concluding, PICC CEO said that the schedule of rates for basic and composite items is being developed progressively. Basic input rates for all the district of Pakistan including AJK and Gilgit are determined and hosted on the web-site. Presently, about 300,000 dates for input and about the same number for composite schedules of rates are being updated on monthly bases, which are to be increased progressively. Rates are collected directly by PICC from suppliers, vendors and PICC market surveyors and verified through cross checking. The date is available on web-site free of cost, he added.