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Federal
Minister for
Industries &
Production,
Mir Hazar
Khan
Bijarani, on
Tuesday,
during
performance
review
meeting,
lauded the
efforts of
State
Engineering
Corporation
(SEC) for
playing a
key role in
industrial
development
of the
country. The
Minister
assured to
support SEC
in order to
transform
its
industrial
units,
especially
Pakistan
Machine Tool
Factory,
Karachi into
viable
entities.
Mr. Bijarani
is the first
ever Federal
Minister to
visit SEC
Corporate
Office.
On arrival
at SEC
office, he
was received
by Chairman
SEC. All the
Managing
Directors of
the units
and senior
officers of
SEC were
also
present. The
Minister was
accompanied
by Secretary
I&P, Mr.
Abdul
Ghaffar
Soomro and
Additional
Secretary
I&P,
Muhammad
Javed Malik.
Giving
presentation,
Chairman SEC
apprised the
Minister
that once
SEC Group
comprised of
12
industrial
units but
now it
operates
four units
namely Heavy
Electrical
Complex
(HEC),
Hattar,
Pakistan
Engineering
Company
(PECO),
Lahore,
Pakistan
Machine Tool
Factory
(PMTF) &
ENAR
Petrotech
Services,
Karachi,
whereas the
rest were
either
privatized
or
transferred.
The Minister
was also
apprised of
the variety
of
engineering
goods being
produced by
the units,
valuable
technical
expertise
imparted to
a number of
technicians,
development
of various
products on
reverse
engineering
basis, their
contributions
in
developing
vendor
industry,
remarkable
references
in the
export
market and
assistance
provided to
oil and gas
sector in
designing
and
engineering
for more
than 3
decades.
Chairman
also pointed
out serious
impediments
faced by the
companies’
particularly
financial
crisis
affecting
PMTF,
non-compliance
of
commitment
of WAPDA
with regard
to placing
orders on
HEC,
disinvestment
of PECO
shares by
NIT
dis-balancing
government
holding and
settlement
of
government
loans
extended to
PECO for its
revival. He
was also
informed
about the
privatization
status of
PMTF and HEC
and
consequences
in case
these high
value units
of national
strategic
importance
are
privatized.
To
turnaround
the
companies,
Chairman
also
identified
specific
measures as
financial
restructuring
and manpower
rationalization
of PMTF,
Balancing,
Modernization,
Rehabilitation
& Expansion
(BMRE) of
HEC and
PMTF,
besides
empowerment
of Board of
Directors
for
effective
business
operations.
The Minister
while
applauding
SEC
performance
and
achievements
informed
that his
priorities
are to drive
the
engineering
units in
public
sector on
the right
track and
produce high
value goods
presently
being
imported at
very high
cost. He
emphasized
for
collective
efforts to
promote
sound
industrial
base through
manufacturing
of capital
goods at
reasonable
prices
conforming
to
international
quality
standards
besides
generating
employment
in the
country. The
Minister
expressed
his keenness
to
turnaround
the
companies
and assured
his full
support for
resolving
the issues
requiring
financial
restructuring,
capability
enhancement,
empowerment
of board and
other
specific
issues. He
directed the
Chairman to
submit
formal
proposals on
each issue
so as to
take-up at
appropriate
fora. We
have to make
these units
viable and
commercially
profitable
at every
cost so that
there is
minimum rely
on Govt.
funding, the
Minister
urged the
SEC
Chairman.
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