Briefing newsmen, he said he had a detailed meeting
with the members of a delegation comprised the representatives of
automobile industry of Pakistan. It was a high-level meeting in which
the representatives of all major automobile companies of the country,
including Toyota Indus Motors, Honda Atlas Motors, Suzuki Motors, Dewan
Farooq Hyundai Motors, Raja Group and Gandhara Nissan Motors were
present. He said members of the delegation apprised him of their
problems and concerns.
"Our first target is to attract more investment
in the industrial sector, local as well as foreign investment. This
increased industrialization will lead to more direct and indirect jobs,
thus improving the overall economic situation of the country," he
He said he had assured the representatives of
automobile industry that healthy policies were being formulated by his
ministry to improve the investment climate.
The minister said automobile industry was
contributing a lot towards the overall betterment of the country's
economy by creating opportunities of employment, support business and
contribution towards national exchequer, which the government realized
He said there were many problems faced by the
consumers to acquire new vehicles from the industry. "The major
problem is high prices of the vehicles and delay in delivery of the
PILOT PROJECT YIELDS POSITIVE RESULTS
The palm oil plantation project run by the Pakistan
Oilseed Development Board (PODB) on trial basis in coastal area of Sindh
has yielded positive results.
These results in terms of quantity and quality of oil
extracted from these trees, an expert remarked, were sufficiently
encouraging to extend the project with the aim to realise the optimal
potential of 700-mile long coastal area of Pakistan where oil palm can
The country, he pointed out, had already spent $ 225
million on import of palm oil during the current financial year. This
burden on limited foreign exchange resources could be minimised within
the foreseeable future if the experiment initiated in 1996 was taken to
its logical conclusion.
SUGARCANE PRICE FIXED AT RS43
Industries and Production Minister Liaquat Ali Jatoi
announced on Tuesday sugarcane price had been fixed at Rs43 per 40
kilograms in Sindh for the current season.
He was addressing a press conference along with
representatives of sugarcane growers and mills owners at PIDC House. He
said that both sugarcane growers and Pakistan Sugar Mills Association,
Sindh zone, had agreed on this price and they would begin crushing very
The minister said problems of sugar mills, including
the surplus commodity, would be solved on priority basis and the
government would allow the export subsidy to them.
Prime Minister's Adviser on Finance Shaukat Aziz said
the government has formulated new rural finance support programme aimed
at poverty reduction and self-reliance in commodities.
IRAN, PAKISTAN TO SET UP REFINERY
Pakistan and Iran are setting up a joint venture
refinery near Karachi, at Hub in Balochistan. An agreement in this
regard is to be signed at the end of this month when Iranian President
Mohammad Khatami visits Pakistan, authoritative sources told Dawn on
A draft of the proposed agreement has been reportedly
prepared by the petroleum and natural resources ministry, which
Pakistan's foreign ministry has dispatched to Tehran seeking Iranian
foreign ministry's prior concurrence before being signed in presence of
the top leaders of the two countries.
PCGA THREATENS TO STOP COMPILING
Pakistan Cotton Ginners Association (PCGA) has
threatened to stop compiling fortnightly arrival figures of phutti into
the ginneries as All Pakistan Textile Mills Association (Aptma) has
refused to help in collection of these figures.
Despite repeated reminders, telephonic message, the
PCGA chairman claims, the Aptma bosses are not inclined to pay the
agreed amount of Rs0.1 million per annum, although four months have
passed since the new cotton season began.
BEIJING WILLING FOR MORE IT PROJECTS
Pakistan and China agreed to enhance cooperation in
various areas of IT industry and to start some joint ventures in
software development, setting up of IT Parks, IT enabled services
including call centres, online accountancy and web development services.
The decisions to this effect were made at a meeting
held here between Ministry of IT and Telecommunications and the
nine-member visiting delegation of Chinese Software Industry Association
(CSIA) led by Chen Chong, president, China Software Industry
SUBSIDY FOR MAJOR CROPS TO CONTINUE: RIND
Federal Minister for Food and Agriculture Yar
Muhammad Rind on Monday said government subsidy for the major crops
would continue despite pressure of the donor agencies.
While talking to APP after inaugurating 23rd session
of FAO Commission for controlling the desert locusts in Southwest Asia
here on Monday at local hotel. He said ongoing farmer-friendly policies
would not only continue but these would be made more beneficial for the