Aug 16 - 22, 2004

 

TRADE PERFORMANCE DURING JULY, 2004

EXPORTS: During the month of July, 2004 exports increased to US$ 1182.7 million as against US$890.2 million during corresponding period of last year, registering a remarkable increase of 32.9 per cent. Over the history of Pakistan, this is the first time that exports during the month of July, 2004 have crossed US$ 1 billion.
IMPORTS: Imports during July, 2004 increased to US$1372.1 million from US$ 999.8 million during the corresponding period of last year, indicating an increase of 37.2 per cent.
TRADE DEFICIT: Trade deficit increased to $ 189.4 million during July, 2004 from US$ 109.6 million in July, 2003 registering an increase of 72.83 per cent.

Exports as percentage of imports decreased to 86.2 per cent during July, 2004 from 89.0 per cent during July, 2003.

LG TIPPED FOR THE TOP BY TIME MAGAZINE

Time magazine has tipped global and regional digital leader LG Electronics to reach the top spot in the consumer electronics industry in the next few years.

This follows on from the company's inclusion in Business Week's Info Tech 100, an annual gauge of the computer industry based on revenue, growth and profits. Time hailed LG's rise to the top to the consumer electronics industry in its issue dated June 21, describing CEO S.S Kim a 'Man of the People' and a leader in innovative management. The company's marketing, management innovation strategies and Kim's management philosophies won rave reviews and were held responsible for LG's surging market presence.

FRIENDLY RELATIONS BETWEEN PAKISTAN & INDIA

Former Speaker of the National Assembly of Pakistan, Gohar Ayub Khan has said building of friendly relations between Pakistan and India was the need of the hour. Pakistan, he said, was making positive endeavors towards the attainment of this vital objective and there is a need for India also to take concrete steps for the fruition of this goal. Mr. Gohar Ayub Khan said this while speaking at a seminar on "Peace Process in South Asia," organized by Preston University at its Campus in Islamabad.

Earlier, in his welcome address on the occasion Chancellor of Preston University, Dr. Abdul Basit extended a very warm welcome to Mr. Gohar Ayub Khan, Syed Kabir Ali Wasti and the other distinguished guests, and thanked them for gracing the seminar by their presence.

MITSUBISHI MOTORS CORPORATION

Mitsubishi Motors Corporation (MMC), Japan's fourth largest automobile manufacturer and Dewan Mushtaq Motor Company (DMMC) announced the institution of the 3S [Sales, Service and Spare parts under-one-roof] dealership network for Mitsubishi brand of vehicles in Pakistan at a press conference, recently.

DMMC signed Dealership Agreements with its first group of dealers covering the entire country in front of the media and unveiled a dealership model of a 'Mitsubishi 3S Dealership'.

DMMC is committed to provide sales and after-sales services of unprecedented levels from these 35 dealerships being established in the cities of Karachi, Lahore, Islamabad, Rawalpindi, Faisalabad, Peshawar, Multan and Gujranwala.

The announcement of the 35 dealership network was followed by a full to capacity press conference attended by the leading press and media personalities.

Dewan Mohammad Yousuf Farooqui, Chief Executive of DMMC emphasized the commitment of the Dewan Mushtaq Group to the Pakistan automobile market through introduction of world-renowned brands like Mitsubishi. He said that the Pakistani market has been waiting for the Mitsubishi brand for a long time now. Re-introduction of the Mitsubishi brand to Pakistani market will seriously challenge the dominance of countering Japanese brands and will bring back quality Mitsubishi products, a trusted name in the market.

Mr. Farooq Mustafa, Chief Operating Officer of DMMC said that having joined hands with MMC earlier this year, DMMC has plans to look after the customers in a customer-centric system. The fact that announcement of the 35 dealers' network is taking place before any product launch, the traditional way of launching car companies, is a manifestation of this commitment to put service before sales.