Pakistan Ordnance Factories, the largest defence industrial complex of the country, have added another feather to its cap by commissioning a refurbished plant for manufacturing of 7.62 mm small arms ammunition, a part of Balancing Modernisation Replacement and Expansion (BMRE) Plan.
Lieutenant General Shahid Iqbal (Retd), Secretary MoDP inaugurated the plant in Wah Cantt, whereas Jin Ryu, Chairman M/s. Poongsan South Korea, Lieutenant General Muhammad Ahsan Mahmood, HI (M), Chairman POF Board, Board Members, Senior diplomats of South Korea, Officers of POF and Military Officials were also present on the occasion, says a press release issued here on Saturday.
The refurbished plant was one of the oldest units of POF and its re-commissioning is seen as a key addition to the strategic potential of the POF. Lieutenant General Shahid Iqbal (Retd) congratulated both POF and Poongsan on this special occasion and sincerely hoped that such exchanges will continue to grow to the advantage of both side. It may be mentioned that the re-furbished plant will pay back its cost within ten years and POF would be saving worth approx Rs 0.5 billion per year due to commissioning of the plant.
The execution of the contract valuing over US $7 million between POF and Poongsan South Korea is also an emblem of growing defence and commercial ties between Pakistan and South Korea. Lieutenant General Muhammad Ahsan Mehmood said that POF have been mandated to meet the requirements of Pakistan armed forces as such POF presently has been producing as many as 60 defence products for the armed forces of Pakistan.
He said that diversification and re-structuring of the products was the need of the present era. A numbers of commercial ventures in shape of public private partnership are in the pipeline under the BMRE plan. Jin Ryu said that Poongsan and Pakistan Army have strong business relations since the last 40 years, whereas POF and Poongsan are the partner for the last five years in the field of defence production, assuring that they will continue to cooperate with POF in future as well.-PR
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