By USMAN ANSARI
ISLAMABAD — Pakistan’s state-owned ordnance producer, Pakistan Ordnance Factories (POF), is being encouraged to become more commercially oriented by the government with the aim of transforming it into a more self-sustainable enterprise.
Federal Finance Minister Ishaq Dar gave this direction to a visiting delegation of POF, headed by its chairman, Lt. Gen. Mohammad Ahsan Mahmood. Dar encouraged the POF delegation to change its business model to a more commercially oriented outlook and consider involving private industry in this endeavor.
Dar stressed his ministry’s support for these efforts, but emphasized POF needed to be turned around to ensure its goals are achievable.
Earlier, the POF delegation had presented Dar with its own proposed three-phased reform and restructuring plan, which Dar asked be made available to the Cabinet Committee on Restructuring along with a complete financial model.
The POF plan aims to make the company self sustainable within the next 10 years.
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