Saifullah Sani
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The Pakistan government is considering transferring the Pakistan Machine Tool Factory (PMTF) - a military component manufacturer - to the Pakistan Ordnance Factory (POF), it was reported on 25 June.
Local news agencies said the move is intended to support the continued operation of the PMTF, which has in recent years suffered a series of financial losses. The POF has reportedly expressed interest in acquiring PMTF to strengthen its capabilities. Both companies are state owned.
Reports said that the POF has already completed a technical assessment of PMTF and that tax and finance assessments were currently underway. In 2014 PMTF posted a loss of PKR2.2 billion (USD21.6 million).
Pakistan considering merging PMTF into ordnance factory business - IHS Jane's 360
Local news agencies said the move is intended to support the continued operation of the PMTF, which has in recent years suffered a series of financial losses. The POF has reportedly expressed interest in acquiring PMTF to strengthen its capabilities. Both companies are state owned.
Reports said that the POF has already completed a technical assessment of PMTF and that tax and finance assessments were currently underway. In 2014 PMTF posted a loss of PKR2.2 billion (USD21.6 million).
Pakistan considering merging PMTF into ordnance factory business - IHS Jane's 360
