Senate Standing Committee to recommend issuance of NOC to NSPC/PSPC

KARACHI:Standing Committee of Senate on Finance, Revenue and Economic Affairs will recommend government to issue No Objection Certificate (NOC) to both Pakistan Security Printing Press (PSPC) and National Security Printing Corporation (NSPC) so that they may also offer its services to the private sector.

Chairman of the Committee, Senator Saleem Mandviwalla talking to reporter on Friday, following a meeting at PSPC office, said it was heartening to find that both NSPC and PSPC were being run profitably and had maintained international standards.

“This is definitely a pleasant fact to know that they have earned a net profit of 71 % and above for past several consecutive years,” he said urging that other government departments and corporations must learn from them too.

To a query, Senator Mandviwalla said Managing Director of NSPC, Mohammad Fasih Tunio and PSPC Chairman, Haroon Rasheed in their respective briefings highlighted their achievements and were able to convince the committee about their performance.

It was appreciated that on the basis of their world class equipments and qualified manpower the two organizations, that were separated only last year, hold all capacities to expand on international level.

“They have asked for government permission to participate in international bidding for relevant projects with all transparency,” said the Chairman, Senate’s Standing Committee on Finance, Revenue and Economic Affairs.

“We will definitely support them provided all needed legal requirements are met and relevant rules and regulations are followed,” he said.

Mandviwala, to a query, said there does exist such precedence as in the past the PSPC had been printing bills of different countries and was still in every position to enhance it products and procure

international recognition.

To a query, he said polymer currency had been introduced in the first world and State Bank of Pakistan also needed to work on it. Earlier, the Chairman and Managing Director of Pakistan Security

Printing Corporation, Haroon Rasheed in a detailed presentation said the organization was in possession of system that may print polymer currency.

He, however, also referred to certain lacunae in the polymer printing itself which reduces the life of the note while these bills could also not be folded.

Mentioning that PSPC was working to its full potential and earning steady profits for past many years, he said besides notes of 50 and 100 denomination, prize bonds worth 40,000, 25,000,20,000, 15000 were also printed.

NSPC Managing Director,informed the committee that it was only in March last year that PSPC was carved into two and National Security Printing Corporation came into being as a separate entity. NSPC, he said is engaged in printing of pass ports, national identity cards, visa stickers, motor vehicle stickers, stamp papers, arm licenses, official certificates, land revenue records and other relevant as well as extremely important documents.

The meeting among others was also attended by Senator Barrister Murtaza Wahab, State Minister for Finance, Rana Mohammad Afzal Khan beside Secretary Committee Mr. Mohammad Tahir Khan and others.