The federal government proposes to set up a state-of-the-art tool, dye and mould (TDM) centre in Orangi, Karachi, which is projected to produce tools, dyes and moulds to the tune of $2.5 million per year for the domestic engineering industry.
Sources said the centre, the first of its kind in the country, was being set up through a limited company by guarantee with a paid-up capital of Rs 450 million.
The proposed centre expected to be completed within 10 months would generate at least 150 jobs.
The decision to set up TDM Centre was taken by Pakistan Industrial Development Corporation (PIDC) in a meeting chaired by Federal Industries, Production and Special Initiatives, Minister, Jehangir Khan Tareen.
The new company's board will comprise six private sector members and two government representatives. A ministry official said that the indigenous TDM industry must be promoted for the development of entire engineering industry. He said the industry had imported tools, dyes and moulds worth $28 million during the last fiscal year, which showed the gap between the demand and supply of tools, dyes and mould within the country.
He said the proposed TDM Centre would give produce for the entire engineering sector from aircraft to medical devices and appliances industry.
Currently the entire TDM industry in the country lies within the informal sector and employs approximately 14,000 people.
He stated that that the country needed more TDM centres like the proposed one if the engineering industry was to grow at the current pace, he added.