15 February 2004	Sunday	23 Zilhaj 1424

KARACHI, Feb 14: President, Dong Feng Automobile Co. Ltd of Zhu Fushou (China) said Saturday that his company has made arrangements for start of production and sale of heavy-duty trucks including prime movers and large buses in Pakistan.

He was speaking at 400th Dong Feng vehicle's roll-off ceremony held at Sindh Engineering (Pvt) Ltd, a company of Pakistan Automobile Corporation Ltd (PACO). Federal Industries Minister Liaquat Ali Jatoi also spoke on the occasion.

Besides Azhar I. Jaffery, Chairman, Pakistan Automobile Corporation Ltd, the Consul General of Peoples Republic of China at Karachi Sun Chunye, Managing Director, Hubei Dong Feng Motor Industry Imp & Exp Co. Ltd. Zhuang Yuxian and others participated in the ceremony.

"We are moving fast in this direction and are very hopeful that this operation will also start in the second half of the current financial year," Fushou said.

He said that it is an acknowledged fact that introducing and establishing, on long term basis, the manufacturing and selling of vehicles of quality brand, in a market in which pedestrian makes are already operating is a difficult and patient job.

Over 250 Dong Feng vehicles can now be seen on the roads of Pakistan and the sales continues satisfactorily and in the desired cautious manner; keeping the long term future for our products in mind, he added.

In his address, Liaquat Ali Jatoi invited the local and foreign investors to come forward and take advantage of healthy investment climate in the country by establishing more and more industries to enhance index of country and generate more jobs.

He also made reference to excellent co-operation and support being provided by China for the over all development of Pakistan.

"Saindak Project, Gawdar Port Project and PACO Dong Feng joint venture arrangements were the prime example of economic cooperation between the two brotherly countries," he added.

Jatoi said that last year, Pakistan has seen a GDP growth of over five per cent, which is bound to improve with the passage of time.

He pointed out that the manufacturing sector, which is the second largest individual sector of the economy accounting for 18pc of the GDP, saw a stellar growth of 7.7pc with major contribution coming from large-scale manufacturing, which recorded 8.7pc growth.

Pakistan's overall manufacturing sector registered a growth of 7.7pc and large-scale manufacturing grew by 8.7pc during the current fiscal year.

He said the improvement in the domestic demand and better macroeconomic environment have resulted in significant turnaround in the manufacturing sector.

The main contribution to this impressive growth came from automobile sector, which accounted for 49.8pc of the growth in the LSM sector. Last year, ten out of eleven groups in the sector registered positive growth.

The Consul General of China, Mr Sun Chunye appreciated the efforts of the government in promoting industrialization and assured of full cooperation of his country in this regard.

The chairman, Pakistan Automobile Corporation Ltd. Azhar I. Jaffery said that 400th Dong Feng Vehicle's Roll off in the first half of February 2004 is a noteworthy achievement from the established norms and standards.

Trial production was undertaken in August 2003 while the commercial production in accordance with the approved deletion programme began in October 2003. -APP