KARACHI, May 29: Midhat A. Kidwai, director operations of Suzuki Motorcycles Pakistan Limited would be successor to managing director and chairman Danishmand, who will relinquish his charge on May 31, 2002.

Danishmand has joined the IBA as director (Head) from June 1, 2002.

A press conference was held on Wednesday at a local hotel to introduce M.A. Kidwai to the mediamen.

The new Suzuki chief said that sales of bikes had been improving for the last few months and the company had earned a profit of Rs15 million in Jan-March 2002.

A total of 870 bikes were sold in April 2002 as compared to 725 in March and 649 in February. He said sales were picking up mainly in the upcountry as Suzuki was being heavily used in making motor rickshaw. Production has also been showing increasing trend for the last few months. However, the company intends to announce dividend for the shareholders after two years.

As many as 40-45 per cent people buy bikes on cash while the rest are being sold through financing and leasing.

Danishmand expressed the hope that the company’s progress would improve under the new chief. He said exports of Suzuki bikes to Middle East and other destinations had been stopped as Pakistani bikes could not compete with the prices being offered by China. Besides, the quality of Chinese bikes are also very unsatisfactory.