Senate body: Upgrading technology vital for survival in Int’l market

F.P. Report
ISLAMABAD: On Thursday, Senate Standing Committee on Defense Production appraised of the seven decades of excellence that POF held and the many accolades it has to its credit.
During the meeting held at Parliament Lodges, the Committee was given a comprehensive performance review of the Pakistan Ordinance Factories (POF), adding that the National Radio and Telecommunication Corporation (NRTC) gave a comprehensive update on business development, growth and challenges of the organization.
Regarding the POF, committee asserted that POF in order to meet war and peace needs of the Armed Forces of Pakistan manages and administers the affairs of the factories and run them on sound commercial lines, the press release cited.  
Moreover, the Surplus capacity of the factories would meet the needs of civilian population and exports, the status of plant and machinery was discussed.  
After the briefing on these matters, Committee was provided with details of 14 factories and defense production units that include weapons, propellants, explosives, heavy artillery and clothing. 
The Committee asserted that upgrading technology was vital for survival in international markets, the press statement mentioned.
It saw great potential in commercialization of production units especially that for clothing.
While discussing commercial subsidiaries of POF, the Committee lauded the product range that was being manufactured and exported.  
Moreover, the committee was discussed COVID-19 pandemic impact on exports, the Committee was informed that this period saw a dip in exports the impact of which will be fully grasped in the next one year.
While discussing Research and Development initiatives Committee members asserted the need to focus on Reverse Engineering, the press statement cited.
Committee in the meeting asserted that POF has the potential to earn USD 500 billion annually other than this the significance of evolving into an autonomous body for program profitability was emphasized.
The meeting of Senate committee was held under the chairmanship of Senator Lt. General Abdul Qayyum HI (M) Retd and attended by Senator Nuzhat Sadiq, Senator Nauman Wazir Khattak, Senator Anwar Lal Dean, Senator Pervaiz Rashid, Senator Muhammad Akram and senior officers of the Ministry of Defence Production along with all concerned, said a press release.