About Pakistan Industrial Development Corporation
Pakistan Industrial Development Corporation (PIDC) is a name synonymous with the industrialization of Pakistan; it is a name without mention of which no discussion, review or analysis of industrial matrix could find any credibility. Indeed the entire spectrum of commerce and industry is rooted deep down to PIDC.
Establishment of PIDC; The Raison D’être
PIDC was established in 1952 under an Act of Federal Legislative. The raison d’etre for its establishment was the critical condition Pakistan was engulfed in at the time of independence. There was at all no industry and the agricultural base was also mild, unable to cater alone for the funding requirements of the nation. The story of PIDC thus, is the story of the Government of a newly created country, successfully undertaking the daunting task of building up the industrial base of the country virtually from scratch. The broad mandate entrusted to PIDC was planning, promoting, organizing and implementing programs for
(1) establishment of industries, (2) exploration and development of mines and (3) exploration, exploitation and development of any material that government may specify. The primary task of the corporation was to set up industries in such fields where the private sector was shy and where large amount of capital outlay with long gestation period was required. Secondly the object was to set up industries in such areas which were backward with a view to creating employment opportunities and removing regional disparities.
Operations invigorated Establishing, developing and expanding industrial base
Proving true to the trust and promise the government reposed in it, PIDC embarked on the gigantic task of bringing up the industrial base from infancy, nay, rather conception to the magnificent edifice as it exists today. No doubt all that we find today on the industrial horizon is the fruit of concerted efforts put in by PIDC. It may not appear any exaggeration if it is said that the private sector that holds the market today has taken the lead from the path set by PIDC. No doubt PIDC played a pioneering role in developing industries in the fields of Fertilizers, Ship building, Heavy Industries, Jute, Textile, Cement, Chemicals, Sugar.
PIDC has established a total of 94 industrial units during 1952 – 1988, list enclosed (annex A). Indeed a remarkable achievement. The saga of PIDC however, is punctuated with stretches of hectic, continuously expanding activity as well as phases of low profile diluted posture. The chronology of vicissitudes is as follows.
As a result of some units transferred to other Ministries/ Corporations and some sold out / disinvested / liquidated, and PIDC relieved of its primary task entrusted to it in 1952, a new role/ mandate was given to PIDC, as reproduced below. “PIDC to be the Primary Vehicle for facilitating industrialization by creating enabling environments for different segments of industries”.
Working with the same zeal and spirit, PIDC has acted promptly on the revised mandate and established nine no Skill Development Companies and Skill Development Centers with 100% investment of PIDC and management handed over to private sector. Similarly two joint venture companies (JV) on public private partnership bases, also related to Skill Development, have been formed and under process of commissioning (list at annex G). Through these SDCs and JVs PIDC has penetrated quite effectively in engineering, furniture, Gems & Jewelry, embroidery & technical training centers, the ultimate focus being the development and uplifting of qualitative and HR Skills in all these areas of social importance.
Besides, PIDC has ventured for mega projects and initiated feasibility studies on Coal Port/ Terminal for Imported Coal, Petrochemical Production facilities in Pakistan, Leather Sector Development Strategy and National fertilizer Strategy.PIDC has also planned addressing the farm and livestock sector. In this context process for setting up a modern Cattle Fattening and Breeding Farm in outskirts of Karachi has been put into gear, as a joint venture.The current management of PIDC is quite optimistic in exploring further avenues of expanding its activities under the new role set by the ministry.