Pakistan Ordinance Factory export earnings increased by 325%
ISLAMABAD: (APP) Pakistan Ordnance Factories (POF) Chairman Lt Gen Omer Mehmood Hayat Wednesday said the organization witnssed around 325 per cent increase in its export earnings during the fiscal year 2015-16.
"The export earnings of POF, Wah has remarkably improved from 22.03 million dollars in the fiscal year 2013-2014 to 93.68 million dollars in the fiscal year 2015-2016," he said while briefing Federal Minister for Defence Production Rana Tanveer Hussain on performance and achievements of the POF in the last fiscal year.
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He said around Rs 25,099.401 million was injected in the budget to meet the target demands of the armed forces.
Among others, the Secretary Defence Production and other high officials attended the briefing held in the Ministry of Defence, Rawalpindi, said a press release.
Highlighting achievements of POF, the chairman said technicians and engineers of the organization were working hard and had achieved the targets set for the 2015-16 despite limited budget.
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He praised the professional competence and commitment exhibited by the POF personnel, who made remarkable achievements in cost saving by executing development projects indigenously.
The minister expressed satisfaction over the performance of POF, Wah and assured his all-out support in replacement of old and obsolete machinery.