Pakistan Machine Tool Factory

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Pakistan Machine Tool Factory
Company type State-owned enterprise
IndustryManufacturing
Founded1968 (1968) in Karachi, Sindh, Pakistan
Headquarters
Karachi
,
Pakistan
Area served
Pakistan-only
Key people
Abid Mumtaz Malik
(Managing-Director)
Products Machine tool
OwnerGovernment of Pakistan
Number of employees
850
Website pmtfl.com

The Pakistan Machine Tool Factory (PMTF) is a Pakistani manufacturer of power and machine tools based in Karachi, Sindh, Pakistan. It was established in Karachi in 1968, the facility was built for the local manufacture of machine tools under technical cooperation and technology transfer agreements with Oerlikon-Bührle of Switzerland. [1]

Contents

History and challenges

Established in Karachi in 1968, PMTF has faced many challenges over the years. [2] Despite completing contracts worth Rs 7.5 billion in 2019, over 700 PMTF employees have gone without salaries for four months. [3] The factory is on the brink of collapse due to financial constraints. [4] Short-sighted government policies and a long and failed privatization process over decades have adversely affected the company's performance and turned it into an ailing unit. [1]

Revival plan

In February 2019, the government approved a recovery plan for the PMTF and decided to rehabilitate and restructure the collapsing PMTF, excluding it from the privatization process for state-owned enterprises (SOEs). [1] The government approved handing over the PMTF to the Strategic Plans Division to replace the ailing government tools manufacturing unit. [5] [6]

Collaboration with SSGC-AE

PMTF and Sui Southern Gas Company Alternate Energy Limited (SSGC-AE) have signed a Memorandum of Understanding (MoU) to unlock "Green Molecules" renewable natural gas potential. As a result, PMTF will supply biogas/biomethane, a renewable natural gas, to SSGC-AE. [7] [8] [9]

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References

  1. 1 2 3 Siddiqui, Hussain Ahmad (February 2019). "Reviving sick PMTF". The News International newspaper. Retrieved 21 December 2023.
  2. ↑ Siddiqui, Hussain Ahmad (November 2023). "Engine of growth". The News International newspaper. Retrieved 21 December 2023.
  3. ↑ "PMTF employees unpaid for four months". The Express Tribune. 3 March 2020.
  4. ↑ "Pakistan economy on verge of collapse: Financial Times". The Express Tribune. 25 January 2023.
  5. ↑ "Govt approves machine tool factory's revival plan". The Express Tribune. 11 March 2019.
  6. ↑ "Govt may hand over defence parts manufacturer to POF (Pakistan Ordnance Factories)". The Express Tribune. 24 June 2015. Retrieved 21 December 2023.
  7. ↑ "SSGC, PMTF ink MoU to promote renewable natural gas". Pakistan Observer newspaper. 20 October 2023. Retrieved 21 December 2023.
  8. ↑ "MoU signed to promote renewable natural gas". The News International newspaper. Retrieved 21 December 2023.
  9. ↑ "SSGC-AE, PMTF ink memo to promote renewable natural gas". Business Recorder newspaper. 21 October 2023. Retrieved 21 December 2023.
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