'PSM suffers Rs5.6 billion loss this year'

ISLAMABAD - The National Assembly was informed on Wednesday that eighty percent components of the cars would be manufactured locally from next year as compare to seventy percent presently. Minister of State for Industries and Production Ayatullah Durrani told the House during the Question Hour Session that instructions had been issued for manufacturing of gear boxes in the country from next year. Similarly, he said power steering and engine would also be manufactured locally. He said hundred percent parts of motorcycle and ninety percent of tractors are being manufactured in the country. To another question, the Minister of State said Pakistan Steel Mills suffered losses worth over 5.6 billion rupees during first seven months of the current financial year. He told a questioner that removal of condition of the national identity card for purchase of sugar from the Utility Stores would be reviewed by the ECC once the price difference between open market and the Utility Stores is normalised. To another question, Minister for Housing and Works Rehmatullah Kaker informed the House that both the President and the Prime Minister were taking personal interests in the housing scheme for the Government employees in Islamabad and the CDA would soon issue NOC for the purpose. He said that three thousand kanals of land had been acquired for the purpose and the money generated through registration of membership had been paid to the landowners.

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