Monday 28 September 2020, 08:18 PM
Pak to open up defence sector for pvt players, hopes for Turkish investment
By Sumit Kumar Singh | Bharat Defence Kavach | Publish Date: 9/16/2020 11:19:31 AM
Pak to open up defence sector for pvt players, hopes for Turkish investment

New Delhi: Pakistan has decided to open up its defence industry for private sector participants with an aim to provide impetus to its indigenous manufacturing industries, sources said. It is coming up with new defence production and offset policies.Sources stated that Pakistan has sought help from Turkey, which is trying to elevate its status as an emerging power in the Middle East bloc, for investment in the defence sector.

"Government of Pakistan is to issue a new Defence Production Policy with an aim of augmenting indigenous defence manufacturing," the source said. It is also preparing a Defence Offset Policy. The initial defence offset policy was formed in 2014.

It was further stated that the "policy will allow private investment in defence research, development and manufacturing industry while granting greater autonomy to state-owned enterprises".Sources said that Pakistan's Ministry of Defence Production (MoDP) is also restructuring itself internally to make it more efficient and viable.

It is also re-organising its prominent state-owned defence enterprises to give them greater independent control. Sources also stated that Pakistan wants to reduce dependence on foreign reliance, generate revenues, and increase job opportunities. The private sectors would be given opportunities in the defence manufacturing sector.

Pakistan is also planning to rope in huge investments in this sector.To initially help Islamabad in defence production, Ankara is inking a deal with Pakistan's Ordinance Factory on urgent note to procure "unspecified quantity" of rifles, SMG (submachine gun)-PK, MP-5 assault rifles and G3S assault rifles.

Earlier this year, Turkey President Recep Tayyip Erdogan made a two-day visit to Pakistan to strengthen their partnership in almost every field. The Turkish delegation with Erdogan consisted of investors, corporate industry heads and businessmen and ministers. During the visit, Erdogan made a remark on Jammu and Kashmir which was not well-taken by India.

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Pakistan,defence,industry,private,sector,participants,manufacturing,industries,

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