Senate Standing Committee on Defence Production was told that POF exported its products to various countries around the globe valuing 31.16 million dollars in the fiscal year 2016-17 while export orders of 36.57 million dollars are in hand. POF products valuing Rs 3230 million were provided to Law Enforcement Agencies of the country and subsidiaries of POF sold its products in local market valuing Rs.8603 millions so the commercial sale at local market touched the total figure of Rs.11833 million. Law Enforcement Agencies placed the orders for weapons & ammunition valuing Rs.3932 million out of which the products valuing Rs.3230 million were handed over to them. It is worth mentioning that during the current fiscal year LEAs placed 25 percent more orders as compared to last fiscal years.
The profit earned by POF subsidiaries during financial year 2016-17 is appended below:
Wah Nobel Group of Companies got profit of Rs 1264 million, Wah Industries Ltd Rs 609 million, Wah Brass Mills Rs 404 million and Hi-Tech Plastics Rs 22 million hence the total profit earned by POF subsidiaries during the fiscal year remained Rs. 2299 million. Senate Standing Committee was further informed that PC-1 for Safe City Project for POF Wah, Sanjwal and Havelian is being prepared which is expected to be completed by November 2017. After completion of PC-1 the case will be referred to Govt of Pakistan for allocation of funds.
Senate Standing Committee was further told that the Prime Minister during his visit to POF on 6th February 2017 announced a Welfare Package for POF employees, which includes 25 percent of the basic pay as Special Allowance, two Advance Increments & a Housing Scheme for POF employees. Notification for special allowance and advance increments have been issued by the Govt of Pakistan and payment in this regard is being made to the employees while the Housing Scheme announced by the Prime Minister of Pakistan is yet to be implemented. Senate Standing Committee was requested to extend help for approval of Housing Scheme for POF employees. Senate Standing Committee expressed its satisfaction over the performance of POF.
Chairman Sanding Committee Senator Lieutenant General Abdul Qayyum (R), HI(M) remarked on this occasion that POF is the mother defence production complex which has made tremendous contributions to ensure Pakistan's national security. Chairman Standing Committee appreciated the efforts of Chairman POF Board and his team for the steps being taken for the progress of POF. The committee strongly recommended to the govt. to expedite action on the following: -
i) Release of Funds for modernization of POF plants and machinery
ii) Formal approval of package announced by the Ex-Prime Minister on 6th February 2017 for welfare of employees.
iii) Formal approval and notification for establishment of housing colony in Wah Cantt for POF employees.
Senate Standing Committee expressed satisfaction over the capabilities of POF.
-PR
Copyright Business Recorder, 2017