Introduction of Pakistan Institute of Cost & Contracts (PICC)

Pakistan Institute of Cost & Contracts (PICC), a subsidiary of Pakistan Engineering Council (PEC), is a non-profit research based institution to function independently for preparation and updating of web based cost data of all construction inputs. PICC provides a single source of authentic construction cost data to prepare realistic project estimates; for effective tendering and contract administration.

The major organizations involved in establishing PICC are: 

1. Pakistan Engineering Council
2. Ministry of Science & Technology
3. Ministry of Housing & Works
4. Public Procurement Regulatory Authority
5. The Planning Commission of Pakistan
6. Planning & Development Departments of the Provinces and AJK
7. National Highway Authority
8. National Engineering Services Pakistan Pvt. Ltd.
9. Water and Power Development Authority
10. Public Works Departments
11. All Pakistan Contractors Association
12. Association of Consulting Engineers Pakistan
13. Director General E&C, General Headquarters  

PICC is governed by Board of Directors and technical advice is provided by a Steering Committee comprising experts from relevant organizations such as NESPAK, Finance/C&W Departments (Govt. of Punjab), PSQCA, WAPDA and Chartered Quantity Surveyor etc.

PICC Construction Cost Data

PICC products & services related to construction cost data include following:

1. Schedule of Rates (SoR) for basic and composite items
2. Technical Specifications
3. Standard Methods of Measurements
4. Model Bill of Quantities & Guidelines
5. Per Unit Rates
6. Material Testing Rates
7. Transportation Charges
8. Cost Behavior Patterns
9. Providers Database
10. Cost Data Reports

As on 31-03-2011, the basic input rates of about 3,171 items including materials, manpower and plant & machinery; and rates of about 1,189 composite items including concrete, brick masonry, stone masonry, steel reinforcement, framework, plastering, pile works, earth works and road works etc are available on PICC website. Overall, rates of about 498,720 cost data items are being maintained and updated on PICC website on monthly basis. The sources of PICC cost data are the manufacturers of engineering goods, vendors, suppliers, consultants and employers etc. whereas the beneficiaries are project planners, estimators, investors from Pakistan and across the globe.

These rates are based on the data collected and verified by the PICC Quantity/Market Surveyors. Cost Data is then checked and analyzed by the Cost Engineers and Quantity Surveyors for final determination of the rates.

Utility and Benefits of PICC Cost Data

The PICC Cost Data will be widely used in major areas given as follows:

• Preparation of budget cost estimates
• Preparation of engineer’s estimates
• Cost validation of PC-1
• Third party cost validation
• Reference data for resolution of contractual disputes
• Reference data for price adjustment
• Reference data for bidders to prepare the bids

Benefits of PICC Cost Data are:

• Quick verification for accuracy of project cost
• Transparency in the estimates
• Minimize malpractices and corruption
• Quality construction
• Timely completion
• Effective contract administration
• Minimizing cost overrun & financial loss to National exchequer during currency of contracts
• Facilitate Cost Plus project execution.

For more in-depth overview of PICC and Cost Data, please refer to PICC website http://picc.org.pk or download/view PICC CEO’s Report 2010 from link http://picc.org.pk/publications.aspx

PICC Head Office Contact Details:

Pakistan Institute of Cost and Contracts (PICC)
PICC House, 275-A, New Muslim Town, Lahore
(Behind Ayubia Market)
Telephone: +92-42 – 35840619-21
Fax: +92-42 – 35840700
Email: info@picc.org.pk
URL: http://picc.org.pk
Note: Detailed contact information of PICC Senior Management is also available at: http://picc.org.pk/contactus.aspx