June 20, 2003	Friday	Rabi-us-Sani 19, 1424

KARACHI, June 19: Federal Industries Minister Liaquat Ali Jatoi said on Thursday that he would take up the issue of import of second hand dumpers which was affecting their sales.

He was speaking at the presentation of Hinopak Motors Limited at SITE area. The Minister said the government wanted to encourage foreign investment, industrialization, which would in turn generate employment.

Jatoi said Japanese investors had played a very important role in industrialization of Pakistan specially in automobile sector which was growing at the rate of 40 per cent.

He advised Hinopak management to submit a report to him indicating problems facing the company so that he could take these issues with the concerned ministries and departments for redressal.

The Minister showed keen interest in Hinopak’s plan on the development of CNG buses and assured that he would provide every possible support to the company in this regard.

Jatoi said he would take up the matter of establishing dedicated CNG stations for public transport buses.

He also suggested to the company to increase its deletion ratio.

Earlier, Managing Director Hinopak Motors Ltd, Chikahiro in his presentation said that the import of Hino trucks and buses in the garb of dumpers had badly affected the production and sales of the company during the past three years.

He said some investors of EPZ were mis-utilising the facilities of dumper import under the SRO 489 (I) 2002 of July 17, 2002 and in fact importing around 4000 Hino trucks and buses every year.

“This has reduced our manufacturing capacity by 50 per cent and now the company was producing 1500 vehicles,” he added.

In addition, this import was causing a revenue loss of Rs6.64 billion to national exchequer.—APP