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POF to face ever worst financial crisis if Rs 21 billion are not provided: NA defence production committee told
ISLAMABAD: Pakistan Ordinance Factory (OPF) is heading towards financial crisis persistently and the administration of OPF has made it clear on the government if 245 million are not provided, its production will be affected adversely.
This was said by chairman POF, Lt Gen Shujaat Zamir Dar while giving briefing to National Assembly (NA) Defence production committee.
POF Wah had demanded Rs 15.56 billion this year but only 9.16 billion rupees were allocated, he told. Army was providing us money from its own share as it was difficult to achieve production without raw material and stores. We had to supply enormous ammunition and equipment to army due to war against terrorism and we had to cancel export orders valuing 500 million dollars in this situation, he informed.
Prime Minister had imposed ban on our foreign tours in connection with export promotion, he added. Now we will have to seek prior permission for foreign tours and due to this factor we will not be able to seize any opportunity to get export orders, he cautioned.
Our utility bill for the current fiscal year stands at Rs 2.2 billion while we have been provided only Rs 1.7 billion and in the prevailing situation OPF will become bank defaulter. If we are permitted to generate electricity we can sell it out to Wapda, he remarked.
Now we need over Rs 21billion to complete our 8 important projects, he said adding if this amount is provided to us then we can complete our projects on emergency basis.
ONLINE - International News Network
ISLAMABAD: Pakistan Ordinance Factory (OPF) is heading towards financial crisis persistently and the administration of OPF has made it clear on the government if 245 million are not provided, its production will be affected adversely.
This was said by chairman POF, Lt Gen Shujaat Zamir Dar while giving briefing to National Assembly (NA) Defence production committee.
POF Wah had demanded Rs 15.56 billion this year but only 9.16 billion rupees were allocated, he told. Army was providing us money from its own share as it was difficult to achieve production without raw material and stores. We had to supply enormous ammunition and equipment to army due to war against terrorism and we had to cancel export orders valuing 500 million dollars in this situation, he informed.
Prime Minister had imposed ban on our foreign tours in connection with export promotion, he added. Now we will have to seek prior permission for foreign tours and due to this factor we will not be able to seize any opportunity to get export orders, he cautioned.
Our utility bill for the current fiscal year stands at Rs 2.2 billion while we have been provided only Rs 1.7 billion and in the prevailing situation OPF will become bank defaulter. If we are permitted to generate electricity we can sell it out to Wapda, he remarked.
Now we need over Rs 21billion to complete our 8 important projects, he said adding if this amount is provided to us then we can complete our projects on emergency basis.
ONLINE - International News Network
. can any update how much other DPO are exportings?
