INDUSTRY

 

Sep 02 - 08, 2002

 

1.INTERNATIONAL

2. INDUSTRY

3. FINANCE

4. POLICY

5. TRADE

6. GULF

 

CAR PRODUCTION INCREASE

The production and sales of locally assembled cars soared by 42 per cent and 21 per cent, respectively, during the first month of the current financial year over the corresponding month of the last fiscal.

 

A total of 3,991 units of cars were rolled out in July 2002, as compared to 2,794 units in the same month last year. Sales in July 2002 flared up to 3,691 units as against 3,044 units in the same month of 2001, Pakistan Automotive Manufacturers Association (PAMA) figures showed.

An assembler attributed the increase in production and sales to the rising demand of cars since March this year, change of models by two leading Japanese assemblers and attractive package offered by the leasing companies and some private and nationalized banks for car financing.

A satisfactory cotton crop of 10.5 million bales and 18 million tons of wheat crop in 2001-2002 also helped in pushing up sales of cars in rural areas, he said.

Since the last few months, almost all the assemblers have raised their production to meet the surging demand of cars.

The production of Toyota Corolla rose to 789 units in July as compared to 500 units.

A total of 575 units of Honda Civic were produced in July as compared to 385 units.

Suzuki Mehran 800cc production rose to 900 units from 600 units. A total of 250 units of Alto 1000cc were rolled out in July as against 117. Suzuki Baleno production and sales increased to 150 units and 141 units, respectively, in July this year from 80 and 58 units in July 2001. Suzuki Cultus production and sales were registered at 469 and 418 units, respectively, in July as compared to 300 and 326 units.

Daihatsu Cuore production and sales peaked to 370 and 330 units, respectively, from 38 and 77 units in July 2001.

OIL, GAS FOUND IN SANGHAR

The Oil and Gas Development Company Limited (OGDCL) announced on Wednesday that they have struck oil in Sanghar, Sindh.

Managing director of the company, Maj Gen Pervez Akmal at his first news conference after joining the company three years back, said the oil was being drilled at its Chak-02 well, 20km off Sanghar town, producing 425 barrels of condensate per day.

The reserves could not be ascertained at present but the production would save US$8 million per year.

TEXTILE SECTOR SET PRODUCTIVITY TARGETS

The government has launched benchmarking campaign for the textile sector to maximize its productivity and has selected 11 spinning mills mostly located in Punjab to go through this process as a first step.

The National Productivity Organisation (NPO), an expert agency under the Ministry of Industries and Production, has been directed to carry out benchmarking study of the spinning industry because this sector has the maximum leverage for output improvement.

A Belgium-based textile expert of the Asian Productivity Organization (APO) Geert De Clercq has been assigned to finalize best practices and productivity standards for the spinning sector over a period of next ten days following interaction with the leading spinning players.

WHEAT SUPPLY

The Secretary, Sindh Food Department, Imtiaz Kazi, has expressed confidence of the provincial government maintaining a steady wheat supply till next harvest in March 2003.

TEXTILES, APPARELS

Pakistan will be among the major beneficiaries of the general rules of origin being established by Canada for textiles and apparel products for developing countries, Canadian High Commission stated on Monday.

WHITE SUGAR

Higher production of refined white sugar this season (2001-2002) has resulted in huge unsold stocks with the millers resulting in liquidity crunch for the millers.

The production figures released by the Pakistan Sugar Mills Association (PSMA) indicated that the mills are holding around 0.990 million tons of unsold stocks up to August 15, 2002.

The white sugar production this year stood higher by 236,517 tons at 3.249 million tons as against 3.012 tons produced during the corresponding period of last season (2000-2001).

AGOSTA LAUNCHED

As Pakistan Navy launched the first indigenously built Agosta 90B submarine on Saturday, six months ahead of sea trials, it announced to negotiate a similar deal with China for the construction of four surface ships.

The launching of submarine "SAAD" is Pakistan Navy's biggest achievement and contribution towards indegenization and self-reliance.

SUGARCANE YIELD IN FIVE YEARS DROPS BY 4.7PC

The sugarcane per hectare yield registered a decline of nearly 4.7 per cent in the last five years, according to comparative study of latest official statistics.

In 1997-98, the yield was 50,288 kg per hectare. In 2001-02, the farmers on average could harvest only 48,042 kg per hectare. Nevertheless, as the Ministry of Food, Agriculture and Livestock (Minfal) rightly claimed, this figure was better by 5.9 per cent than that for the previous year (2000-01).

The real reason for the slight rise in output in a drought year, according to the scientists, lay in "water stress". As in the case of bumper wheat crop of 1999-2000, the higher cane yield became possible after the ground water table sank substantially low the implication being that water was being over-used to the point of being a negative factor.