12 - 18, 2001
CE says Economy revival top priority
Chief Executive Gen Pervez Musharraf said on Thursday that
economy revival of Pakistan, which had been turned into a "graveyard of
sick industrial units", was his government's top priority.
About 190 industrial units were either closed or placed in
the category of sick units, said the CE in his speech at a function in the
Dandot cement factory.
He said the recently-established Corporate and Industrial
Rehabilitation Corporation had rescheduled loans and liabilities of 84
industrial units. Dandot cement factory near Khewra, over 200km from Islamabad,
is the first of 190 dead or sick industrial units that has been revived. It
resumed production last year after a closure of 30 months.
Gen Musharraf called upon the owners of the industrial units
to share their profits with the employees. Workers should also put in their best
efforts for the success of their establishments, he said.
He announced the setting up a girls schools, vocational
institute, construction of 400 housing units for workers as well as two T.B
sanatoriums. Pakistan, he remarked, was bestowed with immense resources, and
with little hard work it could move towards development.
"We have fertile land, natural resources, ample waters,
sea, manpower and brain," he said, adding that all what the country needed
was that politicians, Ulema, trade and industry leaders should work in harmony.
The CE invited overseas Pakistanis to invest in the country
so that its economy could be revived and it could be put back on the road
Gen Musharraf stated that his government was working to
transfer power to people through its devolution plan. However, he pointed out,
the success of the plan could only be ensured through the participation of
Belarus company to set up tractor plant
A Belarussian tractor manufacturer will set up an assembling
plant here in the Punjab capital which is likely to start its operations this
An official of the company stated this on Thursday during the
visit of Belarussian deputy foreign minister Vasily Pugatchev to the Lahore
Chamber of Commerce & Industry.
The Belarussian tractor manufacturer has decided to set up
its plant because of higher duties on the import of completely built- up (CBU)
units. The company would import CKD kits for their local assembly. The company
produces some 50 models of tractors ranging between 8HP and 150HP.
Pugatchev was in here on the last leg of his visit to
Pakistan and meet the local businessmen. "Belarus and Pakistan have agreed
to establish a joint ministerial commission for boosting economic and trade
cooperation. The commission will also have some private sector representatives
on it," the minister told the LCCI.
Irsa to increase water supply
The Punjab and Sindh provinces had utilized one per cent more
and two per cent less water respectively out of the determined share for
irrigation from October to January 15, 2001.
The NWFP and Balochistan provinces during this period had
utilized less water and since January 16, water supply for irrigation to these
provinces has been increased, a statement of Indus River System Authority (IRSA)
said on Saturday. "The use of extra water and less water would be adjusted
in course of time," the Authority said.
Announcing the water distribution plan for Rabi crops,
statement said that from 1st October, 2000 to 31st Jan, 2001 Punjab utilized
8.876 million acre feet water (MAF) against its share of 8.773 MAF. The extra
water utilized by Punjab would be adjusted in near future, statement said.
The Sindh during this period had utilized 6.914 MAF water
against its share of 7.019 MAF. To adjust the two per cent less utilization of
water in Sindh, the water supply from January 15 has been increased.
Plan to expand farm credit
The Small and Medium Enterprise Development Authority (SMEDA)
has prepared a plan to bring certain interventions in the farm sector credit to
expand its range at the grassroots level.
A corporation in the private sector is being launched with
the participation of United Development Limited (UDL) to expand the scope of
agriculture credit purely on commercial basis.
Under the new plan, the government will ensure improved
supply of irrigation water, provide proper fertilizer intake, induce great use
of capital inputs, develop barani areas, implement schemes of water harvesting,
utilization of small dams, and rejuvenation of farmers mini dams scheme.
Board to submit guidelines
The National Fisheries Development Board (NFDB) has prepared
some future guidelines for the federal government to make a new deep sea fishing
policy, supporting continuation of foreign fishing operations till the
upgradation of local fishing fleet and enhancement of penalties for violating
Exclusive Economic Zone (EEZ) of the country by foreign trawlers.
SMEs role being expanded
SMEDA will set up a Financial Management Support System for
SMEs to "help and guide as how and from where to get credit for their
Speaking at a seminar its chief executive officer, Iqbal
Mustafa said banks were already asking "SMEDA to refer the SMEs because
they had ample credit to advance to them", adding "the SMEs will also
be "helped in improving the quality of marketing and finding foreign
markets for them".
Pakistan not getting enough DAP
Pakistan is facing problems in getting required quantity of
DAP fertilizer from Tunisian manufacturers, as they had diverted their
production to the European countries. Pakistan is importing approximately one
million ton of DAP annually from Tunisia to meet its growing local agricultural