Japan offers $300m for
Japan will offer 300 million dollars to Pakistan in 1999 for some of
the on-going development projects, according to Japanese embassy press release issued.
Japan has emerged as the largest donor to Pakistan as it had disbursed
495 million dollars in 1998, despite sanctions Tokyo had imposed on Islamabad following
the May 28,1998 nuclear tests.
"Japan has continued to extend assistance for the on-going
projects such as OECF Yen loans, Grant Aid and Technical Cooperation", the press
In 1998, the net disbursement of the Japanese assistance amounting to
495 million dollars included 424 million dollars in yen loans, 56.65 million dollars as
Grant Aid and 13.94 million dollars as Technical Cooperation.
Furthermore, out of the 3.3 billion dollars worth of loans rescheduled
by the Paris Club for Pakistan for two years, the Japanese share is about 700 million
The main reason why Japan's net disbursement in 1998 has increased so
sharply was the inclusion in the total amount of the impact of Paris Club debt
Due to this debt relief, Pakistan was exempted from repaying the
arrears outstanding at the end of 1998, while at the same time receiving a large amount of
financial assistance for the new development projects committed before May 1998, as well
as for the on-going projects.
Pakistan, thus, ranked the 5th largest recipient country of Japanese
assistance out of 160 countries after China, Indonesia, Thailand and India. The share of
Japan's assistance amongst the Development Assistance Committee (DAC) countries is
expected to go up more than 127 per cent over its own share in 1997.
Plans for four small industrial estates
Punjab Small Industries Corporation (PSIC) is actively considering to
establish four small industrial estates in Gujranwala region.
Informed sources said here on Thursday that the proposed industrial
estates would be set up at Narowal, Hafizabad, Pindi Bhattian and Mandi Bahauddin .
A detailed survey in this connection has already been conducted by the
PSIC for the selection of industrial estate sites. Apart from this the construction work
on small industrial estate No-2 at Gujrat will also be carried out shortly.
27 pesticides samples found unfit
Criminal cases have been registered against some of the distributors/
manufacturers of pesticides whose samples were found unfit by the agriculture department.
It is learnt that the provincial agriculture department extension and
pest warning wing have so far obtained samples from as many as 1,009 pesticides shops.
Out of these, test reports on some 521 have already been received.
Arrivals indicate good cotton crop
The arrivals of new crop phutti into the lower Sindh and the central
Punjab ginneries have doubled during the first month of the new season indicating that
growers are heading for a good crop after consecutive crop failures for the last three
According to unofficial ginning figures compiled by the Pakistan Cotton
Ginners Association (PCGA) for the month of July, the ginneries have turned out 35,000
bales as compared to 17,000 bales ginned during the same period last year.
Over a dozen lower Sindh ginneries, which resumed operations a bit
late, have so far turned out 16,000 bales and that of the central Punjab including those,
which are still buying phutti from Sindh 19,000 bales.
SECP notifies 9 sick units for revival
The Securities and Exchange Commission of Pakistan (SECP) has notified
nine sick industrial units for rehabilitation under section 296 of the Companies
Minister for finance and commerce Ishaq Dar, who chaired a high level
meeting here on Tuesday for the revival of sick industrial units, was told that the task
force on sick units had also identified another 22 cases to be recommended to the SECP for
preparation of rehabilitation plans. As such rehabilitation measures have been taken for
131 sick units both through the efforts of the committee of bankers and that of the task
He told that despite difficulties, the government was providing all
necessary financial and technical help to get many of the sick industrial units revived.
"It is a difficult task but we are at it", he said adding
that the change of management also sometimes created problems in the rehabilitation of any
Mr. Khan said that the issue of non performing loans would have to be
looked into very seriously and that those units which could be revived with little help
were being given the top priority.
Auto sector shows mixed performance
Pakistan's auto sector showed a mixed performance during 1998-99 as
production of cars, tractors and buses have increased as against the fall in two wheelers,
light commercial vehicles (LCVs) and trucks.
According to Pakistan Automotive Manufacturers Association (PAMA), car
production (Toyota, Suzuki, Honda and Nissan) rose by 12.7 per cent to 38,619 units in
1998-99 compared to 33,684 units in 1997-98.
A car maker attributed the rise to cut in customs duty on import of
completely knocked down (CKD) kits on cars about one and a half years back, resulting in
price fall by 10-12 per cent.
The All Pakistan Textile Mills Association (APTMA) has claimed that the
spinning industry has procured 6.92 million bales or 96% of the entire crop this season at
an average price of Rs2,387 per maund as compared to international rate of Rs2,005 per
maund prevailing during the first eight months.
In a statement here Thursday APTMA said the industry had thus paid Rsll
billion over and above the international parity.