Pakistan Mint to be modernised

Plans to upgrade machinery, train workers.

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 16^th, 2011.