POF making tremendous contributions to national security

Staff Reporter

Wah Cantt

A meeting of Senate Standing Committee on Defense Production held at Islamabad wherein matters regarding POF were discussed at length. Lt Gen (R) Abdul Qayyum, HI (M) Chairman Senate Standing Committee presided over the meeting. Secretary Defense Production Lt Gen (R) Ijaz Choudhry and Lt Gen Umar Farooq Durrani, HI(M) Chairman POF Board briefed the committee. Senator Hafiz Hamd Ullah, Nuzat Sadiq, Gian Chand, Brig (R) William, Sehr Kamran and Attiq Sheikh attended the meeting.
Senate Standing Committee on Defense Production was told that POF exported its products to various countries around the globe valuing US $ 31.16 million 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% more orders as compared to last fiscal years.
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.
Chairman Sanding Committee Senator Lt Gen (R) Abdul Qayyum, HI(M) remarked on this occasion that POF is the mother defense 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 release of Funds for modernization of POF plants and machinery; formal approval of package announced by the Ex-Prime Minister on February for welfare of employees and formal approval and notification for establishment of housing colony in Wah Cantt for POF employees.

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