ISLAMABAD (APP) - Private companies have started setting up their power plants due to electricity load shedding and escalating cost of production by generators' use. Indus Motors Company (IMC) CEO, Pevaiz Ghiyas told a News channel that the cost of production was shooting up due to persistent load shedding and interruptions in electricity supply in the city and, therefore, private companies were now switching over to its own power production arrangements. He said that IMC has set up a power plant for meeting its electricity requirements, which after installation would cut the power cost by 10/15 percent. Our staff reporter from Karachi adds: The Board of Directors of Indus Motor Company Ltd, met on April 18, 2008 to review the company's financial and operating performance for the quarter ended March 31, 2008. The domestic automobile industry demand for Passenger Cars (PC) and Light Commercial vehicles (LCY) which fell for two successive quarters for the first time in the current fiscal year since 2002, recovered slightly during January -March 2008 quarter but was still down 8% to 47,638 units compared 51,740 units sold during the same period last year. Timely intervention by the government to suspend application of 2.5% Withholding Tax for two months until April 21, 2008 helped prevent further drop. On nine months year to date basis, the sales volume was down 5% to 136,587 units compared to 144,072 units sold for the same period last year. Uncertainty in the market place created by the political and economic pressures mainly contributed to the volume decline. Despite the prevailing adverse market environment, the Company's sales of Toyota and Daihatsu brands CKD and CBU for the quarter recorded an increase of 4% to 13,307 units compared to 12,799 units sold for the same period last year. On year to date basis, the sales volume of PC and LCY at 36,445 units declined 1% from 36,704 units, while production at 34,925 units was slightly up from 34,819 produced for the same period in 2007. During the period, Indus was able to improve its market share by 2% to 23%. The sales revenue for the nine months ended March 31,2008 increased by 4% to Rs 29.3 billion (9 months to March 2007: Rs 28.3 billion), while profit after tax at Rs 1.9 billion was almost the same as earned in the previous period last year. Increases in cost of   production on account of rising Yen and Dollar, coupled with higher cost of steel, consumables and other inputs caused erosion in margins, even though the Company was able to partially offset some of this burden by way of increases in retail selling prices of its products.