Pakistan Mint to be modernised

Published: January 16, 2011

Government decides to restructure, upgrade and modernise Pakistan Mint

ISLAMABAD: The government has decided to restructure, upgrade and modernise Pakistan Mint and for that purpose it has invited proposals from national and international companies for conducting a feasibility study.

Pakistan Mint, established in Lahore in 1942, is responsible for minting of coins. It also manufactures medals, military awards as well as postal seals and stamps. The company is responsible for refining gold and converting it to five-kilogram bars for the State Bank of Pakistan.

The government needs to upgrade the obsolete machinery and equipment being used at the mint in order to enhance its productivity, output quality and cost-effectiveness. Furthermore, its current staff also lack requisite expertise and will require an extensive training programme.

A company will be selected for carrying out the task of restructuring in accordance with the Public Procurement Rules and it will be completed in 120 days after the contract award date.

Published in The Express Tribune, January 16th, 2011.

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Reader Comments (3)

  • p k saha
    Jan 16, 2011 - 2:26PM

    From production records, it looks that from 1992 to 1998, there was very little production of coins.
    by the mint. Now also the production is limited to 1 and 2 Rupees coins only. Ideally, the number of denominations should be 5. 1 Rupee has little purchasing power. It is suggested that denominations could be 2, 5, 10, 20, 50 Rupees in coins and highest 2 denominations could be modern bimetallic coins.
    Also, mint should explore the possibility of exporting coins to countries like Afghanistan, Uzbekistan, Armenia, Tazikistan etc., many of them do not have their own mints and depend solely on mints abroad.

    PKSRecommend

  • satyram
    Jan 17, 2011 - 9:09AM

    But please request them on my behalf that after getting modernised, don’t try to mint Indian currency (jokes apart ) :)Recommend

  • p k saha
    Jan 17, 2011 - 2:31PM

    I think India also floats tenders for coins abroad. As per SCWC, India had coins made in UK, Mexico, Russia, Korea, Canada, South Africa etc. If they float a globall tender, Why not participate in it? What is required apart from spare capacity is technology. Modern technology would mean multi-ply plating technology and bimetallic blanks making technology.

    PKSRecommend

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