The Pakistan Security Printing Corporation (PSPC) has completed a number of its projects well before time enabling the organisation to meet the increased demand of the security documents.
"During the last one and half year period of the present government, two mega projects for the development of this corporation including replacement of machinery and equipment for the printing of non-banknotes security documents and co-generation power plant were approved by the present government", a senior official of the Ministry of Finance, told APP.
He said to replace the outdated and old machinery for the printing of non-banknote security documents such as Postal and Non-Postal Stamps, Machine Readable Passports (MRP), cheques booklets, prize bonds and other miscellaneous security documents, balancing, modernisation and replacement (BMR) project of this corporation involving a capital cost of Rs 426 million was approved by the Central Development Working Party (CDWP) of the Planning and Development Division, on April 30, 2008. The project, he said has been completed in September, 2009 well before the committed time and within the cost approved by CDWP.
After the completion of the projects the objectives of improving quality of the products has been improved, Wastages have been be reduced and enabled the corporation to meet the increased demand of the security documents. This project, he said, would involve the latest model machines and equipment and would enable this corporation to enter in the international market.
Regarding the project of co-generation power plant, he said that the corporation was in the business of printing and supplying of the very sensitive nature of security documents and cannot afford the frequent electric breakdowns, which not only affect the quality of the products but damage the sophisticated machinery and equipment.
To overcome this problem, he said present government had approved a self-generation power plant on November 22, 2008 involving a capital cost of Rs 170 million. The project, he said, would be completed by end of December this year and after the completion of this project, the corporation would become self-sufficient to meet its power/energy requirement, its electric supply would be reliable and stable.
He added the power generation for the corporation would be cheap and economical while the risk involved in the damage of machines due to frequent power breakdowns would be eliminated. He added that this would also provide relief to KESC, which is facing great shortage of power.
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