Pakistan Machine Tool Factory Explained

Pakistan Machine Tool Factory
Type:State-owned enterprise
Industry:Manufacturing
Founded: in Karachi, Sindh, Pakistan
Hq Location City:Karachi
Hq Location Country:Pakistan
Area Served:Pakistan-only
Key People:Abid Mumtaz Malik
Products:Machine tool
Owner:Government of Pakistan
Num Employees:850

The Pakistan Machine Tool Factory (PMTF) is a Pakistani manufacturer of power and machine tools based in Karachi, Sindh, Pakistan. It was established in Karachi in 1968, the facility was built for the local manufacture of machine tools under technical cooperation and technology transfer agreements with Oerlikon-Bührle of Switzerland.[1]

History and challenges

Established in Karachi in 1968, PMTF has faced many challenges over the years.[2] Despite completing contracts worth Rs 7.5 billion in 2019, over 700 PMTF employees have gone without salaries for four months.[3] The factory is on the brink of collapse due to financial constraints.[4] Short-sighted government policies and a long and failed privatization process over decades have adversely affected the company's performance and turned it into an ailing unit.[1]

Revival plan

In February 2019, the government approved a recovery plan for the PMTF and decided to rehabilitate and restructure the collapsing PMTF, excluding it from the privatization process for state-owned enterprises (SOEs).[1] The government approved handing over the PMTF to the Strategic Plans Division to replace the ailing government tools manufacturing unit.[5] [6]

Collaboration with SSGC-AE

PMTF and Sui Southern Gas Company Alternate Energy Limited (SSGC-AE) have signed a Memorandum of Understanding (MoU) to unlock "Green Molecules" renewable natural gas potential. As a result, PMTF will supply biogas/biomethane, a renewable natural gas, to SSGC-AE.[7] [8] [9]

External links

Notes and References

  1. News: Reviving sick PMTF. Hussain Ahmad. Siddiqui. The News International newspaper. February 2019. 21 December 2023.
  2. News: Engine of growth. Hussain Ahmad. Siddiqui. The News International newspaper. November 2023. 21 December 2023.
  3. Web site: PMTF employees unpaid for four months. March 3, 2020. The Express Tribune.
  4. Web site: Pakistan economy on verge of collapse: Financial Times. January 25, 2023. The Express Tribune.
  5. Web site: Govt approves machine tool factory's revival plan. March 11, 2019. The Express Tribune.
  6. News: Govt may hand over defence parts manufacturer to POF (Pakistan Ordnance Factories). 24 June 2015. The Express Tribune. 21 December 2023.
  7. News: SSGC, PMTF ink MoU to promote renewable natural gas. Pakistan Observer newspaper. 20 October 2023. 21 December 2023.
  8. News: MoU signed to promote renewable natural gas. The News International newspaper. 21 December 2023.
  9. News: SSGC-AE, PMTF ink memo to promote renewable natural gas. 21 October 2023. Business Recorder newspaper. 21 December 2023.