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Tata Nano may soon cruise on Pakistani roads
The International Multi Group of Companies, a Pakistani business house with interests in areas as diverse as edible oil and film imports, has expressed an interest in importing vehicles from India`s mammoth Tata Group, including the Nano and CNG buses.
"We already have a letter of intent with the Tata Group as we were interested in their CNG buses. At a later stage, if restrictions in the trade policies of both India and Pakistan are removed, we are interested in bringing the Nano to Pakistan," IMGC Global Chairman Amjad Rashid told PTI today.
IMGC`s plans to import CNG buses from Tata have been held up due to restrictions in Pakistan`s trade policy, which allows the import of only a limited number of vehicles and makes it mandatory for a majority of vehicles to be assembled within the country.
At the same time, the Reserve Bank of India`s policies does not allow joint ventures and investments in Pakistan.
"We raised these issues with Indian Commerce Secretary Rahul Khullar when he was in Islamabad last month for talks with the Pakistani Commerce Secretary and he promised to get these restrictions removed," Rashid said.
Rashid said his group, which has an annual turnover of about USD 200 million, is keen on bringing the Nano into Pakistan.
"That is the ultimate objective. We already have a letter of intent. Once the bottlenecks are removed, we would import the CNG buses and the next step would be the Nano," he said.
IMGC, one of Pakistan`s largest manufacturers of edible oil, is also interested in collaborating in other sectors with the Tata Group, including technology, Rashid said.
The group is also Pakistan`s largest importer of Indian films.
"We brought in 30 Indian films last year and we have signed for 15 more films this year. We are also about to conclude a deal for digital film technology, which will remove the need for importing film prints as movies will be brought in as digital files," Rashid said.
A Tata Group delegation that visited Pakistan about two years ago had held meetings with several senior officials and leaders, including the Industry and Commerce Secretaries and Punjab Chief Minister Shahbaz Sharif.
The delegation had even expressed interest in donating some CNG buses to Pakistan.
However, the Tata Group backed off on business ventures with Pakistan after the 2008 Mumbai terror attacks, when a group of militants targeted several locations in India`s financial hub, including the iconic Taj Mahal Palace Hotel owned by the Tatas.
The recent resumption of the India-Pakistan peace process has given a boost to several business proposals between the two countries that are in the pipeline.
IMGC Global chairman Rashid was among the Pakistani businessmen who participated in several meetings held during Commerce Secretary Khullar`s visit to Pakistan to discuss ways to increase trade cooperation, including permission for joint ventures and investment.
Pakistani traders are looking at India as a key market for their products like cement and textiles, while India is being seen as a provider of low-cost technology and products like the Nano, which was launched in 2008 with a price tag of Rs 1 lakh.


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Definition of duck out
- We ducked out after the first act of the play.
- They ducked out on us without even saying goodbye.
- I had to duck out of the meeting to take a phone call.
- He wants to duck out of the contract.
- She ducked out on paying the bill for the meal.

subset: commoncrawl


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Six months ago Brunette was the thrilled and lucky winner of 2 Business Class tickets on Qatar Airways. Our plotting commenced immediately. We were in a dither of excitement about traveling in our own little people pods with flat beds, entertainment centers and good food and wine. But where would we go? With Qatar Airway's home being Doha we decided to go there and see it … [Read more...]
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The presiding magistrate of a Chief Magistrate's Court un Rivers State, Sokari Andrew-Jaja, has adjourned till September 28 for adoption of written addresses on a case involving an ex-police sergeant, Johnbosco Okoroeze, who allegedly aided a ritual murder suspect Ifeanyichukwu Dike to escape from police custody.
Dike a 200-Level student of the University of Port Harcourt (UNIPORT), allegedly drugged, raped, murdered and dismembered the body of 8- year old Chikamso Victory Mezuoba in Port Harcourt, last month.
The suspect was arrested and handed over to the men of State Criminal Investigation and Interrogation Department (SCIID), for further action. But Dike escaped from the premises of the police.
The Investigative Police Officer (IPO) in charge of the case, Okoroeze was held responsible for the escape. The State Commissioner of Police (CP), Zaki Ahmed said he was negligent to his duties. He was earlier subjected to an Orderly Room Trial and was found culpable in Dike's escape.
Okoroeze was subsequently dismissed from the Force and arraigned in court on a two count charge of conspiracy to aiding and abetting escape of a murder suspect, to perverse justice.
The charge against him was not read out to him, he was not also allowed to take plea. The presiding magistrate declined jurisdiction, he said he lacks the powers to hear the charge on count two, whereas count one charge is within his purview.
He ordered that the case file be forwarded to the office of the state Director of Public Prosecution for advice.
He however urged the defence counsel and the prosecution to file written addresses on and against the bail of the accused, and adjourned the matter for adoption of written addresses and report of DPP's advise, as he ordered that the ex-Police officer be remanded in Prison custody.