The board of directors of Pakistan Industrial Development Corporation (PIDC) on Monday approved the setting-up of a state-of-the-art moulds and dyes centre at Karachi at a cost of Rs 450 million to facilitate local development of components for the industry. Federal Minister for Industries, Production and Special Initiative Jahangir Khan Tareen chaired 65th meeting of the board at PIDC head office.
The minister was briefed about the various projects under study and taken up by PIDC and various issues relating to these projects were discussed.
The board was informed that PIDC, a profit-earning corporation is expected to earn a pre-tax profit of Rs 300 million for the next year.
The board appreciated the efforts made by PIDC management for achieving the target fixed for the current financial year. The progress report of newly formed company M/s National Industrial Parks Development and Management Company (NIP) was presented to the board.
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