Pakistan Economy Thread


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auto manufacturer planning to launch premier SUVs in
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LAHORE – The fourth largest South Korean auto manufacturer SsangYong Motor Company (SYMC) plans to launch premier sports utility vehicles (SUVs) next year in Pakistan.

The company’s management visited Pakistan to deliberate and finalize plans with Daehan Dewan Motors Company (DDMC) and they also visited Dewan Farooque Motors Limited (DFML) auto assembly plant located at Sujawal Sindh.

The keen interest from SYMC in Pakistan shows that the Automotive Development Policy (ADP 2016-21) has been successful in attracting healthy investment from some of the leading international automobile manufacturers.

Moreover, having DDMC (DFML) as a business partner who has recently been awarded brownfield status from the government will enable SYMC to establish its foothold in Pakistan.

SYMC is the fourth largest South Korean automobile manufacturer. Since its inception in 1954, SYMC has developed itself as a premier manufacturer in Korea’s automotive industry and is well respected for its advanced styling and outstanding performance.

Ssangyong’s Tivoli
Moving into the passenger segment, in the start, DDMC plans to introduce the Tivoli and XLV SUVs that will be assembled at its
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DDMC has recently launched the Daehan SHEHZORE pickup which is extremely popular in Pakistan in the light commercial pick-up category. The launching of SHEHZORE also ensured the resumption of vehicle production at DFML automobile assembly plant. Both DDMC and DFML are part of Yousuf Dewan Companies.







 

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List of Power Projects Completed or near completion....

Please note either the first units of some power plants are inaugurated while many are fully completed.

1180 MW Bhikki Power Plant
1230 MW Balloki Power Plant
1223 Haveli Bahadur Shah Power Plant
680 MW Chashma Nuclear power Plant
425 MW Nandipur Power Plant
1320 MW Sahiwal Coal Power Plant
1320 MW Port Qasim Coal Power Plant
118 MW Fauji Foundation Coal Power Plant
300 MW Quaid e Azam solar power plant
1410 MW Tarbela 4th Extension project 470 MW Inaugurated
150 MW Patrind Hydropower Project
106 MW Golen Gol Hydropower Project
969 MW Neelum Jehlum Hydropower Project near completion
103 MW Duber Khwer Project operational since 2013
14.5 MW Nalter 5 Hydropower Project Nalter GilgitBaltistan
750 MW of different Wind power plants in Sindh including plants like Sapphire, Yunus, Metro, Foundation, Three Gorges, Jhimpir etc.







 

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PM directs speedy finalization of GI law (Geographical Indication)

International brands continue selling Pakistan-origin goods due to non-finalisation of Geographical Indication (GI) Law that aims to protect commercial heritage of the country’s products including Basmati rice and Ajrak.

The law is pending for the last 17 years due to differences between large lobbies leading to failure of market place regulation.

However, the Federal Cabinet in its meeting held early this week has authorised the Commerce Division to initiate legislation on the GI Law.

A senior officer in the Commerce Division told Dawn that Prime Minister Shahid Khaqqan Abbasi had directed the officials to speed up the process to finalise the draft law.

The draft law will again be submitted to the cabinet for approval before being presented to the parliament. “We will send the draft to the Law Division for vetting,” the official added.

The GI Law can protect various products including Hunza apricots, Charsadda/Peshawari chappal, Multani halwa, Sindhi Ajrak, Sargodha’s kinno, Kasuri methi, Sindhri mango, Dir knives, Swat wild mushrooms, Nili-Ravi buffalo, Chaman grapes, Pashmina shawls, etc.

The delay in the legislation is costing heavily to the exchequer because of the unintended theft of intellectual prosperity in GI’s belonging to Pakistan.

For example, Morocan Ajrak skirts were sold by international retailer H&M earlier this year. Dolce & Gabbana introduced food processors bearing the funky Pakistani truck art while Paul Smith launched Peshawari chappal.

A draft law was already written in consultation with all stakeholders but was placed on the back burner for the past one year.

The Commerce Division has been working on the GI Law since 2000. The draft has been vetted many times by the authorities concerned, but no action has been taken so far.

As per the proposed law, the term of registration of an authorised user of a geographical indication will be for a period of 10 years from the date of filing of application for registration. This exclusive right over the use of GI will be extendable for another 10 years.

GI is an intellectual property right (IPR) which gives the right to a person over the creation of their minds for a certain period of time.

Member countries of the World Trade Organisation (WTO) need to give protection to GIs under Article 22-24 of the Trade-Related Aspects of Intellectual Property Rights (TRIPs) agreement.

The GI Law covers a wide variety of products that include industrial, agricultural, horticultural and others. In the absence of the GI Law, Pakistan cannot claim exclusive GI of Basmati rice.







 

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"Pakistan remains visible on foreign investors’ radar globally, despite the ongoing political uncertainty in the country, Overseas Investors Chamber of Commerce and Industry (OICCI) representatives said on Tuesday."

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"Sales of locally assembled automobiles, including jeeps and light commercial vehicles, jumped to 22,654 units in February 2018, up 15% compared with 19,686 units in the same month of previous year, showed the data released by the Pakistan Automotive Manufacturers Association (Pama) on Monday."


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"Pakistan Ambassador to China Masood Khalid said on Monday that since the signing of China-Pakistan free trade agreement in 2007 and the launch of China-Pakistan Economic Corridor (CPEC) in 2013, the bilateral trade volume and investment have soared."

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PSX COMMENCES WEEK ON POSITIVE NOTE AS INDEX GAINS 400 POINTS....



"The Pakistan Stock Exchange (PSX) on Monday commenced the week on a positive note, with the benchmark KSE-100 Index gaining 400 points to close at 43,411."

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OUTLOOK ON PAKISTAN BANKS STABLE: MOODY’S...



"Moody’s Investors Service says that its outlook for banks in Pakistan (B3 stable) is stable over the next 12-18 months, but the economy is susceptible to political instability."

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Policies bringing foreign investment: PM...



"Prime Minister Shahid Khaqan Abbasi Tuesday witnessed signing of an MoU between Telenor Group and Ant Financial Services Group for strategic partnership agreement in Pakistan."

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