Indus Motor announces 9MFY14 earnings of Rs2.3b

LAHORE (Staff Reporter): indus Motor Company (INDU) has announced 9MFY14 earnings Rs2.3b (EPS Rs29.5) as against Rs1.7b (EPS Rs22.0) in the same period last year, up 34% YoY.  Improvement in earnings is primarily attributable to 4.8%YoY increase in sales revenue to Rs44.8bn, mainly contributed by 3.5% volumetric growth in local sales to 26,727 units. In 9MFY14, gross margins of INDU increased by 1.7% to 8.9%, driven by recent appreciation of PKR against US dollar caused margins to surge. During 3QFY14, company reported EPS of Rs12.3 as compared to Rs6.0 in 2QFY14 (up 105%QoQ) and Rs9.6 in 3QFY13 (up 28.9%YoY).

The quarter on quarter increase is attributed to volumes improvement by 71% due to new year phenomenon. During 3QFY14, gross margins stood at 8.8% vs. 7.4% in preceding quarter.

Regulatory cooperation in services trade can boost economy

LAHORE (APP): Better policies are key to promote Trade in Services which could be achieved by deeper reciprocal liberalization with trade partners and greater regulatory cooperation where the Pakistani service providers/professionals will get access to the foreign markets.Malcolm Boswoth an international expert on Trade in Services said delivering lecture at the training organized here by the International Trade Centre (ITC) under the European Union funded TRTA II programme.  The TRTA II programme is funded by the European Union which aims at enhancing export competitiveness of Pakistan. 

The programme has three main components where Component 1 is about trade policy capacity building and is implemented by the International Trade Centre (ITC).

The training course is jointly conducted by ITC and PITAD in collaboration with the Punjab Department of Industries, Commerce and Investment, Lahore.

Professor Malcolm Bosworth hails from the University of Bern, World Trade Institute, Switzerland.

Sajid Hussain, Director General PITAD appreciated the efforts of ITC in developing institutional capacity of Pakistani training and research organizations. He emphasized the need to develop services sector and allocation of additional government funding and resources to promote the Services particularly health sector.  Speaking at the occasion, Sher Afgan, Director General Trade Development Authority of Pakistan, emphasized the need to promote Trade in Services which according to him is an important contributor to the country’s economy.

He highlighted that TDAP is providing every possible assistance to the service providers at domestic level.

Mohammad Owais Khan, Programme Officer International Trade Centre , introduced the EU funded TRTA II programme and highlighted the assistance provided by ITC to local training and research organizations to build their institutional capacity. He flagged the MOU facilitated by ITC between PITAD and the World Trade Institute which has contributed immensely to the capacity building of Pakistani policy makers.

13.39m cotton bales reach

ginneries

MULTAN (APP): Over 13.39 million bales of cotton have reached ginneries across Pakistan by Apr 15, says a fortnightly report issued by the Pakistan Cotton Ginners Association (PCGA) here Friday. Seed cotton (Phutti) equivalent to 13,390,788 bales reached ginneries till April 15, and out of the stock, Phutti equivalent to 13,387,441 bales have undergone the ginning process. Arrivals in Punjab were recorded at 9.630 million or 9,630,656 bales and 3.76 million or 3,760,132 bales in Sindh. Exporters have bought 392,754 bales while textile mills purchased 12.4 million or 12,436,218 bales, thus the total sold cotton bales were calculated at 12.82 million or 12,829,972 bales, the report says.

Exactly 560,816 bales are still with the ginneries as unsold stock till Apr 15, 2014.

Cross-border trade: Pak-India

officials meet next week

NEW DELHI (Online): Pakistan and India officials will meet next week in Islamabad for continuing uninterrupted cross border trade and solving of problems of traders. According to India media, an Indian delegation would be travelling to Islamabad next week to iron out any obstacles, try to gain consensus on several issues and form a mechanism to ensure smooth and continuous cross border trade. The trade between the two countries suffered asset back after recovery of brown sugar from a Muzaffarabad truck. The set back has also created a sense of disappointment between the traders of both sides.

The Indian delegation besides officials of foreign, finance, Interior ministries would also include civil administration and security agencies reps.

PDWP approves nine projects costing Rs 52.58b

PESHAWAR (APP): The Provincial Development Working Party (PDWP) in its meeting held under the chairmanship of Khalid Pervez, Additional Chief Secretary , considered 10 development projects in which nine development projects were approved with an estimated cost of Rs.52,583.566 million. The meeting was attended by the Administrative Secretaries and senior staff of P&D, Finance, Environment, C&W, LG&RD, Agriculture, Energy & Power, Elementary & Secondary Education, Food & Irrigation Departments. The approved projects included construction of 69MW Lawi hydropower project Chitral, construction of 84 MW Matiltan Gorkin Swat hydropower project.

, electrification of 100 villages through Solar and alternative energy at a cost of Rs.216.44 million, establishment of 100 Government primary schools on need basis at a cost of Rs.1733.263 million, purchase of land for construction of food grain godowns at Abbottabad at a cost of Rs.75.000 million.

Construction of DFID assisted bridges at Malakand Division, construction of abutments, approaches and launching of steel bridges to be provided by DFID under Flood Damages, restoration project in District Swat, Chitral, Dir Lower and Dir Upper at a cost of Rs.960.83 million, emergency rural roads rehabilitation project.

Rehabilitation and improvement of eight number of roads in district Haripur at a cost of Rs.211.720 million, emergency rural roads rehabilitation project, rehabilitation and improvement of nine number of roads in district Nowshehra at a cost of Rs.600.828 million, pre-feasibility study, feasibility study and detail design of small dams in Khyber Pakhtunkhwa at a cost of Rs.108.115 million.