LCCI signs MoU with DEPO

LAHORE (Staff Reporter): The Lahore Chamber of Commerce and Industry and Defense Export Promotion Organization (DEPO) on Saturday inked a Memorandum of Understanding (MoU) to cooperate in Defense and Defense Production sectors at the LCCI. The LCCI President Malik Tahir Javed and Brigadier Waheed Mumtaz signed the document while Senior Vice President LCCI Khawaja Khawar Rashid and Vice President Zeshan Khalil were also there. By signing the document, both organizations have entered into a pact to jointly capitalize on emerging opportunities in defense sector. LCCI President Malik Tahir Javed said that cooperation between the two organizations is aimed to increased value addition within the country in manufacturing and long-term support for defense sector. It will also help open new vistas in both the Defense and Defense Production sectors. MoU will also pave way for cooperation in Research and Development (R&D). LCCI and DEPO will act as joint venture Partners for organizing Suppliers and Vendors exhibition (SAVDEX).

The MoU is the way forward to meet the growing demands of the Defense Industry. With the vast experience and expertise in defense sector of DEPO and LCCI, it is sure that together the both organizations can address the needs of the Pakistani defense market as well as explore export markets of various products/ systems of mutual interest," Brigadier Waheed Mumtaz said.

Traders back move to cut taxes on energy, agri sector

ISLAMABAD (APP): Federation of Pakistan Chambers of Commerce and Industry (FPCCI) here on Saturday lauded the Pakistan Tahreek-i-Insaf (PTI) plan for decreasing taxes on energy supply facilities, agriculture sector and saving state-owned companies from political interference. The move will make businesses more competitive with regional countries resulting in enhanced exports and employment opportunities, said senior vice president of FPCCI, Sohail Hussain. The plan of PTI's economic managers to insulate state-owned enterprises from political interference will help Pakistan save billions of dollars, he added. He said that the bleeding state-owned corporations continue to inflict losses to the tune of trillions of rupees which add to the budget deficit. Malik Sohail said that strong incentives will help recover the agricultural sector which must include reduced power tariff for tube wells, adding that reduction in power tariff will reduce the cost of doing business for farmers while will provide relief to masses.

It will also help exporters to compete with the rivals in the international market.

Fertiliser prices should also be reduced to boost agricultural production, he added.

The new government has decided to bring more transparency to more than 60 billion dollar Belt and Road infrastructure projects in Pakistan which is a welcome move, he observed.

It has also promised transformation of governance, strengthening the federation, revitalizing economic growth, revolutionizing social services, ensuring the country's national security and uplift of agriculture sector during the first 100 days in power.

He urged the incoming government to announce a complete set of reforms without any delay to boost economy and confidence of investors.

Motorcycle production up 15pc

ISLAMABAD (APP): The production of motorcycles during the first eleven months of fiscal year (2017-18) increased by 15.44 percent as against the corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. As many as 2,650,233 motorcycle were manufactured during July-May (2017-18) against the output of 2,295,846  during July-May (2016-17), showing growth of 15.44 percent, the latest PBS production data revealed. The production of cars and jeeps witnessed 20.10 percent increase during the period under review as 214,904 jeeps and cars were manufactured during July-May (2017-18) against the production of 178,944 units during July-May (2016-17). The production of light commercial vehicles (LCVs) witnessed an increase of 18.54 percent in production during the period under review by growing from 22,927 units last year to 27,178 million during 2017-18. The production of tractors also increased from 50,049 units last year to 67,371 units, showing growth of 34.61 percent while the production of trucks increased by 20.27 percent, from 7,104 units to 8,544 units.

However, the production of buses during the period under review witnessed negative growth of 31.54 percent by going down from the output of 1,043 units to 714 units.

Meanwhile, on year-on-year basis, the production of motorcycles increased by 14.57 percent by growing from the output of 231,295 units in May 2017 to 264,984 units in May 2018.

The production of tractors also witnessed upward growth of 19.56 percent by growing from 5,746 units in May 2017 to 6,870 units in May 2018.

The production of jeeps and cars increased by 0.74 percent  as the country manufactured 18,227 jeeps and cars during May 2018 against the production of 18,094 units during May 2017, the PBS data revealed.

The production of tractors also witnessed upward growth of 19.56 percent by growing from 5,746 units in May 2017 to 6,870 units in May 2018.

The production of LCVs witnessed decrease of 12.96 percent in production by going down from the output of 2,368 units in May 2017 to 2,061 units in May 2018.

The output of trucks witnessed negative growth of 7.02 percent by going down from the output of 869 units in May 2017 to 808 units in May 2018 while the output of buses declined by 19.51 percent by declining from 82 units to 66 units.

It is pertinent to mention here that the overall Large Scale Manufacturing Industries (LSMI) of the country witnessed growth of 6 percent during the first eleven months of the current fiscal year compared to the corresponding period of last year.

The country's LSMI Quantum Index Numbers (QIM) was recorded at 149.19 points during July-May (2017-18) against 140.75 points during July-May (2016-17), showing growth of 6 per cent.

The highest growth of 3.62 percent was witnessed in the indices monitored by Ministry of Industries, followed by 1.58 percent growth in the products monitored by Provincial Bureaus of Statistics (PBOS) and 0.80 growth in the indices of Oil Companies Advisory Committee (OCAC).

On year-to-year basis, the industrial growth increased by 2.76 percent during May 2018 as compared to same month of last year, however, on month-to-month basis, the industrial growth decreased by 11.63 percent in May 2018 when compared to growth of April 2018, the PBS data revealed.

Plastic products expo gets $100m orders

KARACHI (NNI): The exhibitors at the 16th Plasti Pack & IFTECH-2018, have received over $100 million on the third and last day of Pakistan’s largest exhibition of plastic and food technology sector.  The exhibitors from 32 countries were given an   overwhelming response from trade visitors who took keen interest in plastic, packaging and food processing machinery and technology along with the food ingredients and chemicals, displayed at the exhibition. The foreign experts have narrated the salient features of latest global trends in the related industries. The exhibitors have seen lots of potential for their machinery and technology in the fast growing processing and packaging market in Pakistan, saying that they are having good business at the PLASTI PACK & IFTECH. “Pakistan has productive market for food processing machinery, but there is a need to create awareness among our buyers about the benefits of value addition “said a Chinese exhibitor. “We see lots of future potential in Pakistani market for the technology our company is offering”, he added.

On the second day of the exhibition there was a professional B2B activity at the expo center, a high profile global food technology conference was held.

The theme of the conference was, “Pakistan Beverage Industry The Way Forward”, prominent local and international speakers from Germany, Pakistan and Middle East had presented their papers and highlighted the role of the latest trends and practices in beverage industry. They particularly discussed the topics on: Juices and Concentrates - Future Generation Drinks, Drinking Water in Portion Packs + HPP Technology for Fresh Juices & Smoothies. Rapid detection of food-borne pathogens by real-time PCR, Aseptic packed Juices , compulsory to quench and replenish body drains, Hyperbaric Storage of Food and Beverages at Mild Pressure: A Possible New Preservation Concept.

The unique skill showcasing activities and competition by the culinary arts students from college of tourism and hotel management, (COTHM), and professional chefs of the hotel and restaurant industry was held at the expo center, which include knife skill, fruit, vegetable and ice carving skills, cake making and decorations and other exotic culinary preparations. All preparations are based on live demonstration in concurrence with the 2nd days of PLASTI & PACK-IFTECH.

The 2nd day of Plasti & Pack, received overwhelming response from trade visitors who took keen interest in plastic, packaging and food processing machinery & technology along with the food ingredients & chemicals, displayed at the exhibition.

More than 8,000 visitors from China, Afghanistan, Iran, UAE and from the various other cities of Pakistan including Faisalabad, Karachi, Lahore, Hyderabad, Sahiwal,. Sialkot, Attock, Rawalpindi, Islamabad, Muzaffarabad, Kasur, Gujranwala, Shekhupura, Multan, Harpur, Abotabad, Khairpur, and Azad Kasmir have visited, 1st and 2nd day of the exhibition and appreciated the state of the art technologies displayed at the expo centre. A larger number of visitors are expected to visit on the last day of the Exhibition.

Over 400 companies from 30 countries have participated in the B2B event. The countries includes exhibitors from Austria, China, Denmark, England, France, Germany, Greece, Holland, India, Indonesia, Iran, Italy, Japan, Malaysia Netherland, Philippines, Poland, Pakistan, Portugal, Serbia, South Korea, Spain, Sweden, Singapore, Switzerland, Thailand, Turkey, Taiwan, UAE, UK and USA.