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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.
21 of its prestigious units were lost in East Pakistan in 1971 as detailed in annex B. In March 1974, PIDC had to transfer a number of projects to newly formed Public Sector Corporations under a President ordinance that aimed at re-organizing the Public sector. List of 18 no units transferred to corporations under M/o I & P and those 26 no transferred to other government bodies is annexed at C & D respectively.
In 1984, through a Presidential ordinance PIDC was converted into a Corporate body (hitherto it was Statutory Corporation). Resultantly PIDC’s role was truncated, it took the status of a Holding Company, all the units operating under it were converted into Limited companies having their own Board of Directors operating as subsidiaries of PIDC. Ipso facto the role of PIDC was confined to mere policy directions, evaluation and general guidance thereby investing full autonomy in the operating units.
During the course 17 no units had been sold & disinvested, list enclosed (annex E). It is noteworthy that most of the units taken away from PIDC have not operated well in the new hands; the majority of them having been closed by the new managements. Six no unit, found no manageable/ non-profitable have been liquidated during last ten years, list enclosed (annex F)