A subsidiary of Pakistan Engineering Council (PEC), PICC is a non-profit, research based institution to function independently for preparation and updating of web based cost of all construction inputs and to deal with matters related to engineering contracts.

The Institute prepare, update and maintains on its website the Cost Data of all construction inputs; develop and updates Country specific Schedule of Rates (SoR); Country specific Procurement Documents; prepares guidelines for Cost Estimation of Construction Works; develops standard methods for Measuring Elemental Construction Works and Uniform Classifications Systems for Specifications & BOQs. It also conducts training, workshops, courses and research on engineering cost & contracts.