Haier Pakistan is a consumer electronics and home appliance company based in Pakistan. The company was established in 2000 and is a subsidiary of the Chinese multinational group Haier. It offers a wide variety of home appliances, including refrigerators, washing machines, and air conditioners. Its products are available at retail stores across the country.
OPIC’s programme portfolio in Pakistan
OPIC, a US development finance institution, is poised to double its programme portfolio in Pakistan in the near future. It recently held meetings with the finance minister of Pakistan, Ishaq Dar, and discussed measures the government is taking to kick-start the national economy. The president of OPIC, Elizabeth Littlefield, congratulated Mr. Dar on the successful approval of the IMF’s Programme for Pakistan.
In Pakistan, OPIC is supporting renewable energy development and investment opportunities. The United States has recently announced its commitment to lend US$95 million to the Sapphire Wind Power Company, a company in Sindh, to build a 50 MW wind power plant. The United States and Pakistan are working together on projects to diversify Pakistan’s power generation.
OPIC’s programme portfolio in Pakistan includes investments in the power and financial services sectors. It has committed more than $200 million in financing to help businesses start up or expand their operations. The financing provided by OPIC is generally in the form of a loan guarantee, which covers up to 100 percent of the total cost of a project. It also provides direct loans to cooperatives. Before approving these loans, OPIC considers how much the projects will contribute to the host country.
The US has historically sponsored development projects, including those that benefit US investors. However, OPIC’s programme portfolio in Pakistan focuses on sectors that support local businesses in developing nations. These sectors are often the most vulnerable to corruption and political influence. It has also been found that OPIC’s programmes can lead to loan defaults and insurance claims, putting taxpayers at risk.
The USD-95 million credit facility will support the construction of a 50-MW wind power plant in Pakistan. The plant is located in the Ghoro-Keti Bandar Wind Corridor and is expected to generate 133 GWh of emission-free electricity annually. Pakistan has more than thirteen2,000 MW of installed wind capacity, and this project is a vital step toward providing electricity to its people.
There is also a need for OPIC to be more transparent, and its beneficiaries should follow strict codes of conduct. However, terminating OPIC’s operations in Pakistan is unlikely because of its vested interests, both within the government and among its beneficiaries. Privatizing OPIC’s programme portfolio is one way to improve accountability and transparency. OPIC’s financial management can be outsourced to private companies that offer loans and insurance. However, the federal government should impose regulations and requirements on the use of its services.
Another way to improve OPIC’s programme portfolio is to mandate its beneficiaries to adhere to the Principles of Global Corporate Responsibility (PGR) in their operations. PGRs require companies to follow standards of corporate behavior that protect the environment and workers. OPIC must also enforce stricter operating standards.
CAMBODIA Group
Haier Pakistan is a leading manufacturer of electronics products in Pakistan. The company has been in the country for 13 years and has achieved the second highest market share in the category of refrigerators, air-conditioners and washing machines. A recent survey conducted by Millward Brown shows that 94% of Pakistanis are aware of the Haier brand.
The Haier Pakistan CAMBODIA Group’s operations in Pakistan are centered around a special economic zone (SEZ) on the outskirts of Lahore. It is one of eight countries where the Chinese government plans to help investors set up SEZs. In Lahore, the company’s production is carried out in a joint venture with the Pakistani company Panapak Electronic. The company has achieved ISO9001:2000 certification, making it the first foreign-brand home appliance manufacturer in Pakistan.
