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Thursday June 13, 2024

PHSADC merged into KP economic zones company

By Bureau report
May 22, 2024
This image shows the logo of the Pakistan Hunting and Sporting Arms Development Company (PHSADC). — Ministry of Industries & Production (MoI&P)/File
This image shows the logo of the Pakistan Hunting and Sporting Arms Development Company (PHSADC). — Ministry of Industries & Production (MoI&P)/File

PESHAWAR: Pakistan Hunting and Sporting Arms Development Company (PHSADC) was merged into Khyber Pakhtunkhwa Economic Zones Development and Management Company (KP-EZDMC), a subsidiary of the provincial government of Khyber Pakhtunkhwa, officials said on Tuesday.

The company, established under Section 42 of the Companies Act, was mandated the uplift of the cluster of hunting and sports arms and its accessories.The company was having several achievements on its credits and adoption of the reverse engineering for manufacturing of quality hunting and sporting arms by providing facilitation to the arms manufacturers. However, the company was facing hardship in operation due to a financial crunch. The company, after the merger, will now work as the cluster development department of the KP-EZDMC with an expanded scope.

Before the amalgamation the company was providing technical assistance to only hunting and sporting arms manufacturers and now it will also provide technical assistance to all kinds of manufacturing industries. The decision of the merger was reached in the 72nd meeting of the provincial cabinet of Khyber Pakhtunkhwa held on June 2, 2022 to transfer the Pakistan Hunting and Sporting Arms Development Company (PHSADC) from the federal government to the KP government.