In this article, we will explore the fascinating world of Pakistan Machine Tool Factory and everything it has to offer. From its origins to its impact on today's society, Pakistan Machine Tool Factory has played a crucial role in our daily lives. Over the years, Pakistan Machine Tool Factory has generated a lot of interest and debate, and in this article we will delve into the different aspects that make it so relevant. From its benefits to its challenges, we will examine in detail how Pakistan Machine Tool Factory has influenced the way we think and act. Join us on this journey of discovery as we explore the fascinating history and impact of Pakistan Machine Tool Factory on today's world.
Company type | State-owned enterprise |
---|---|
Industry | Manufacturing |
Founded | 1968Karachi, Sindh, Pakistan | in
Headquarters | Karachi , Pakistan |
Area served | Pakistan-only |
Key people | Abid Mumtaz Malik (Managing-Director) |
Products | Machine tool |
Owner | Government of Pakistan |
Number of employees | 850 |
Website | pmtfl |
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.
Established in Karachi in 1968, PMTF has faced many challenges over the years. Despite completing contracts worth Rs 7.5 billion in 2019, over 700 PMTF employees have gone without salaries for four months. The factory is on the brink of collapse due to financial constraints. 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.
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). The government approved handing over the PMTF to the Strategic Plans Division to replace the ailing government tools manufacturing unit.
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.