KARACHI: The project of the proposed People’s car has been revised, providing for the production of 25,000 units a year against the previous projected capacity of 15,000. The project, according to the revised programme, will now be implemented in four phases spread over a period of five years. … The first phase will be confined to assembling of imported CKD units. The second phase provides for the production of machine parts, and the third and the fourth phases envisage production of the hundred per cent components within the country. … According to the previous project, the production … would have started within two years after the go-ahead signal to the Pakistan Automobile Corporation. But under the revised project the locally manufactured car may not come out of the factory before 1979. — Correspondent

[Meanwhile, as reported by news agencies from Washington,] the possibility of a worldwide recession is not being ruled out by senior officials of the industrial countries, the International Monetary Fund warned today [Sept 16]. … “The unprecedented combination of circumstances …. calls for international co-operation of a quality rarely achieved in the past.”

Published in Dawn, September 17th, 2024