TRUCKS & BUSES

Hinopak celebrates 10 years of growth

In November 1998 Hino Motors, Ltd., Japan and Toyota Tsusho Corporation took charge of Hinopak Motors Limited from Al-Futtaim UAE group with joint shareholding of 89%. This major investment in Hinopak represented their confidence in and commitment to the Pakistani market.

To mark this occasion Hinopak Motors Limited organized a simple and graceful ceremony. Haruo Komatsu, General Manager, Hino Motors Japan and Tsutomu Mori, Deputy General Manager, Toyota Tsusho Corporation especially attended the event.

Komatsu in his address said, Hinopak Motors Limited is the vital partner of Hino Motors Japan. Though the impact of the world economic conditions are affecting businesses worldwide but we assure our fullest support of the technology transfer for the Pakistani market.

In his speech, Kunwar Idris Chairman, Hinopak said the 10 years under the Japanese Management have been the best ever in Hinopak's history in terms of production, sales, profitability and employees growth. We are so confident that under the able Japanese Management we will continue this trend...............more

The Italian manufacturer of CNG kit, Landirenzo (LR) S.P.A. will establish a new assembly line in Pakistan to produce 15,000 CNG kits per month exclusively for export purposes. This was stated by the out-going head of business development LR Pak Ltd Francesco Grillo in Karachi.

He said the assembly line will be operational in next three months at a cost of Rs270 million. The existing assembly plant of LR Pak Ltd costing 60 million euros or Rs1.7 billion was producing more than 180,000 kits per annum, catering to the demands of original equipment manufacturers (OEMs) and the market. Besides, we are exporting CNG kits assembled in our existing LR Pak plant to China, Myanmar and Bangladesh. The addition of new assembly line will help in expanding CNG kit exports from Pakistan, he observed.

He said that his company has a market share of 95 percent in CNG kits in Pakistan. "We are meeting 100 percent requirements of OEM for CNG kits. Our company has 40 percent market share in CNG and LPG kits worldwide. Pakistan was very important market for Landirenzo. We have sold 170,000 kits last year - our second year of operation in Pakistan.".............more

After the roaring success of Yamaha Junoon, consumers across Pakistan were long expecting from DYL Motorcycles a robust 70cc four-stroke motorcycle. Rightfully so, consumer expectations were not only met, but exceeded - in the shape of DYL DHOOM YD-70.

The launch of "YD-70 Dhoom" started with a teaser campaign in print, electronic and outdoor media in early December to be followed by a string of Launch Events.

The first event was held in the "Zinda Dilaan Pakistan" City of Lahore, on 15th December 2008, at Pearl Continental Hotel. The colorful and festive event was well received by the zesty Dealers of Lahore, as DHOOM YD-70 became an object of desire, winning their hearts instantly. Next on the whirlwind tour of launches was the event held in Pearl Continental, Rawalpindi, on 16th December 2008. The third event was held in Multan in Shahjahan Hall on 18th December, 2008. And last but not the least, the final leg of the Launch Tour concluded with an event held on 20th December 2008 in the "City of Lights, at Hotel Sheraton, Karachi,........more

The incumbent Managing Director, Karachi Stock Exchange is drawing a salary of about Rs100,000/- a day in addition to spending Rs500,000/- per month on his personal security by the management of the KSE even in the present financial crisis.

According to sources Adnan Afridi, Managing Director KSE is drawing his monthly salary Rs2,400,000/- and Rs400,000 towards allowances and other benefits per month, which means he is receiving Rs100,000/- (Rupees One Lac per day).

General Secretary KSE Employees Union (CBA), Iqbal Munshi has appealed to President Asif Ali Zardari and Prime Minister Syed Yousaf Raza Gilani to issue an order to investigate the messy affairs of Karachi Stock Exchange in connection with the MD's monthly salary and other expenditures.

He urged to curtail the wastage of national exchequer and to save unnecessary huge expenditure by the management of KSE on their luxurious lifestyle and stop violation of human rights through implementation of orders of Courts.

Automobile manufacturers and auto-parts' vendors in Pakistan have warned government that revenues from automobile sector would decline by over 25 per cent this year due to declining demand. Encouraged by automobile growth from 2001-2007, the industry and government of Pakistan fixed a target of over half million units' production by year 2011-12 that now seems out of reach. Manufacturers regretted that industry has failed to achieve the targeted productions in 2006-07 when 1,95,688 cars were manufactured against a target of 2,26,620 units.

Cars manufacturers have increased prices of new cars owing to depreciation of Pak rupee, said a car dealer. Tightening of the vehicle leasing policy and higher mark-up are the factors that are forcing buyers to go for second hand vehicles. He said small used cars are more in demand than luxurious cars and therefore their price has increased much more. Five years and less old vehicles are more in demand and maximum price increase have been seen in this segment, while there is a minor difference in prices of cars more than six or eight years old. The 800 CC cars are always in demand and a major hike is seen in the price of these vehicles.

Prices of used vehicles have increased by 15 to 25 percent because of rapid increase in prices of new cars. According to Pakistan Automobile Manufacturers Association (PAMA), around 164,710 vehicles were produced in 2007-08 and currently around 511,213 three-year-old vehicles are running in the country.............more

Huge exchange rate depreciation and booming Japanese Yen which appreciated by 35 percent during five months of the current financial year 2008-09 falling heavily on import based industries especially the automobile sector due to rise of price and drastic cut in sales which dropped at least by 54 percent during the fiscal.

The car sales dropped by 54% Year-on-Year (YoY) based and consequent to decline in car sales the industry triggered 43% dip in overall auto numbers in November 2008. In fact, weak demand trend is visible in last five months of 2008 numbers as consumers continue to shy away from purchasing cars that are becoming more expensive by the day which is also reflected in rising price of used cars as well.

Make-wise prices of various cars indicate that prices of Cuore of Indus Motors have increased by 21-27%, Suzuki cars by 12-16% since July and Corolla by 6% since the new model was launched (excl. 5% FED and 1% higher Sales tax). Demand from the middle income segment continues to be hit by expensive auto financing and stringent credit criteria by the banks............more

Despite remarkable contributions in strengthening Pakistan's foreign exchange reserves position, non-resident Pakistanis have been deprived of tax and duty concession on the import of used cars.

The Economic Coordination Committee (ECC) of the Cabinet in its last meeting has axed the depreciation allowance rate from two percent per month to just one percent per month to benefit rich automobile industry.

The decrease in depreciation allowance would automatically increase the incidence of customs duty, withholding tax, general sales tax and other federal levies on import of used cars by the overseas Pakistanis. The ECC while considering a summary of Ministry of Industries and Production on "measures to address declining trend in automobile industry" granted exemption from 35 percent cash margin on Letter of Credit (LC) on the remaining non-localized components for the auto manufacturers/ assemblers and raw materials for the vendor industry, as done in other segments of industrial sector............more

It is an honour for Hinopak that its Principal Hino Motors, Ltd., Japan has selected Hinopak as its export manufacturing base for supply of buses to the Middle East and African markets. This decision of Hino Motors is proof of the confidence they have in Hinopak and its production facilities and capabilities to meet the needs of such a huge and diverse market.

In this regard a meeting was recently held in Pakistan in which delegates from Hino Distributors in Algeria, Jordan, Kuwait, Lebanon, Qatar, Saudi Arabia and South Africa participated along with delegates from Hino Motors Limited, Japan, Toyota Tsusho Corporation and Denso Singapore.

The objective of the meeting was to demonstrate Hinopak's production and design capabilities to the delegates as well as to discuss the requirements of Hino distributors of Middle East and Africa. The foreign delegates showed their confidence in capabilities of Hinopak and praised the quality and workmanship of Hino bus bodies manufactured by Hinopak.

Haruo Komatsu, General Manager, Hino Motors Japan and Tsutomu Mori, Deputy General Manager, Toyota Tsusho Corporation visited Hinopak dealers during their visit to Pakistan on the occasion of 10 years of Japanese Management.

Hinopak 38 dealers assured Komatsu and Mori of their fullest support to promote Hino products in Pakistan and for providing superior after sales support to the customers.

They also met with various transporters to get first hand knowledge about prevailing market conditions. Transporters showed satisfaction with the performance of Hino's current truck and bus models and the level of product support provided to them by Hinopak.

The media managers of Karachi Electric Supply Company have informed that KESC Management has introduced a facilitation desk service, to be set up at the offices of various trade and industry associations in Karachi. These desks are an extension of KESC's rapidly improving customer facilitation initiative, and have been set up in response to a need expressed by commercial and industrial consumers for the resolution of current billing issues, as well as to provide a point of contact for the industry to liaison with the Company for any other KESC related matters.

The desks, to be manned by KESC officials, will be set up at the offices of KATI, SITE, Federal B Area, North Karachi and KCCI, effectively covering all commercial and industrial organizations operating within the jurisdiction of KESC. However, residential and non-commercial consumers can continue to utilize the large network of KESC Customer Service Centres spread across the city...........more

The Aviation Sector despite government's ban frequently importing duty-free Ground Handling Equipment which was already available and being manufactured within the country thus overburdening precious foreign exchange of Pakistan on one hand and depriving national exchequer of Custom duty and taxes on the other.

It may be mentioned here that Pakistan is already facing fiscal deficit of more than 8% of GDP, burdened with foreign debt of more than $44 billion and trade deficit of over 20 billion dollar. Its foreign exchange reserves were drastically down for which the country has obtained a loan of 7.2 million dollar from IMF.

The list of such importers includes different local and foreign Airlines, Material Handling Agencies and other companies. While the items include; Conveyor Belt Baggage, Self Propelled Passenger Steps, Lavatory Truck self propelled, Truck mounted, Ground Power Unit, Pallet/ Container Transporter, Baggage Trolleys, Container/ Pallet Dollies, Aircraft Loading Ambulifter, Water Service Truck etc. ............more

Mobilink signed an agreement with Pakistan Post Office to introduce Mobile Money Order Service in Pakistan. The agreement was signed by Ahsan Basir Sheikh, Additional Director General (Financial Services) from Pakistan Post and Bilal Munir Sheikh, VP Marketing from Mobilink.

Elaborating on the initiative, Bilal Munir Sheikh, VP Marketing, Mobilink said, "As a company on the forefront of technological innovation, Mobilink has pioneered mobile commerce in the country. Continuing our tradition of firsts, the Mobilink Mobile Money Order Service is a unique offering that completely revolutionizes the process of sending and receiving money orders. The first and only service of its kind in Pakistan, MMO enables our customer to send and receive money orders to any Mobilink customer across the country anytime, anywhere, via SMS.".............more