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In 2006-07, the local automotive industry for the fifth year running made an impressive contribution towards the economic growth of the country. The market for locally assembled passenger cars and light commercial vehicles grew by 9% to 204,212 units compared to 187,436 units sold in 2005-06. Continued import of used cars and rise in interest rates restricted the growth rate compared to earlier years.
Positive impact of production increase by auto industry *
Investment in the auto sector has risen to Rs 98 billion Direct employment is now 192,000 people Indigenization of auto parts has reached high levels, as the local engineering industry develops with more and more technology transfer Auto industry contributed Rs 63 billion to the government exchequer Saved the country Rs 22 billion in foreign exchange
* Daily Times, February 2, 2007 ECC (Economic Co-ordination Committee), Govt. Of Pakistan
This policy set out tariffs for CBUs. The Engineering Development Board. creates a further anomaly as locally produced cars are allowed a depreciation of only 15% per year. Thailand and other countries in the region. the depreciation rate of 2% per month amounting to 50% in two years. Compared to India. disallowing imports of vehicles older than 3 years. in consultation with the industry.000 units of sales during the year. Company Review The Company is pleased to report that 2006-07 was another record year. CKDs. up by 19%. 2007 were 50.493 units compared to 46. this restriction has been waived till August 31. We achieved over 50. our policies for used car imports through Personal Baggage Rules are quite liberal besides being prone to misuse. we improved upon previous benchmarks. This is a very welcome development and we commend the GOP for putting in place an environment that is forward looking and provides the much needed framework in which the industry can confidently invest for the future. Your company crossed production of 250.278 units in 2005-06.406 units last year. However. compared to 42. the government had announced a restriction on the age of imported used vehicles. In Product Quality and Safety. In addition. Significant milestones were achieved. Vehicle Imports In the 2007-08 budget. 2007 and vehicles older than 3 years continue to find their way into the Pakistani market. Toyota Corolla out-performed its competition and established a market segment leadership position in Pakistan with 59% market share in the year 2006-07. Sales Sales of locally manufactured vehicles and CBU variants for the year ended June 30.557 units.000 units since its inception. and components looking forward six years. has finalized a long term policy framework for the auto industry. These imports are still 14% of the domestic passenger car and LCV production and continue to impede growth of the local auto industry.Used Vehicles Increase in local production to meet market demand and restriction on import of used vehicles that are more than 5 years old led to a decline in used vehicle imports to 28. Our dealership network expanded from 25 to 29 dealers. This is a welcome step. CKD Passenger Car Small-High Segment 19 .
CKD Passenger Car Economy Segment The New Generation Camry introduced in the beginning of 2006-07 fiscal year showed impressive performance.Daihatsu Cuore increased its share to 26% in 2006-07 from 18% last year in the economy car segment that continues to show impressive growth. durability and after sales service and product support capability of Indus. with increased focus on fleet customers who are secure in the reliable performance.Luxury Segment In the new SUV category. New SUV (Land Cruiser/Prado) 20 . we increased our market share from 62% to 88% this year. to 54% by June 2007. in its segment. It increased its share from 16% last year. New CBU Passenger Car .
compared to Rs 35 billion achieved last year. It is a quantum upgrade over the previous model.9 and Shareholders Equity was up 28. up 3. has performed exceptionally well throughout the world and is both powerful and stylish. which is featured in our Annual Report.2 billion.723.5% to Rs 8 billion.8% compared to Rs 4.1% (2005-06 of 42.3%) while Earnings per Share rose 3. An amount of Rs 1. The Company posted a record profit before tax of Rs 4. A final payment of Rs 8 per share has been proposed to shareholders.7% to Rs 34. Achievement of higher sales volumes. Profit Sales revenues for the year 2006-07 increased by 11% to a record Rs 39 billion. efficient operations and favorable foreign exchange rates contributed to the overall earnings and enabled the Company to absorb cost push inflationary pressures emanating from high fuel prices in order to provide maximum value and relief to our customers. This new generation model. 21 . Dividend The Company's Return on Equity for the year was 34.3% increase compared to the Dividend payment in 2006.Our Hiace and Hilux increased market share from an already impressive 63% last year to a market dominant position of 84% this year. a 8. Sales Revenue.1 billion achieved last year.9 million is recommended for appropriation to the General Reserves which will be utilized for continuing growth and capacity expansion. New CBU 1 Ton CV (Van and Pickup) Segment Preparations are underway to commence manufacture of the New Generation Hilux in Pakistan in late 2007. making the total payment for the year of Rs 13 per share.
EVP. At the ceremony he stated. He was given a rousing welcome by our senior management followed by a tour of the plant and facilities. state of Mr Akio Toyoda being briefed in Obeya Room the art Toyota Gymnasium at Habib Public School. Karachi. Mr Akio Toyoda is a former national field hockey player of Japan and has played international hockey matches in Pakistan in his youth! Mr Akio Toyoda inaugurating the Toyota Gymnasium 22 . "I am optimistic about Pakistan's Automobile Industry which has developed substantially in recent years and I anticipate that it will continue to grow in the future. EVP. Toyota Motor Corporation visits IMC Toyoda San praised IMC's performance and congratulated the Company on increasing its production capacity nearly four times in the last four years to meet the tremendous demand of its vehicles. Japan visited Indus Motor Company on November 10. Toyota Motor Corporation. Toyota Motor Corporation is proud to be associated with the House of Habib in not only making a contribution to Pakistan's automobile sector but also being part of community service as a good corporate citizen". the grandson of "Toyota's founder" and the Executive Vice President. He also commented on the growth of the automobile market." Mr Akio Toyoda also inaugurated the modern.Visits by Toyota Senior Management Mr Akio Toyoda. "I am delighted to visit Pakistan again and feel honored to launch this sports facility. 2006. Toyota Motor Corporation It was a matter of great honor and pride for us that Mr Akio Toyoda. Mr Akio Toyoda. where he was briefed on the manufacturing processes. The performance and milestones achieved by IMC were highlighted during a presentation.
He noted that the automobile industry has a key role to play in increasing employment and transfer of technology and is the major contributor in the growth of the engineering sector in Pakistan. President. Expressing optimism on Pakistan's auto market. Toyota Tsusho Corporation to Indus Motor Company on May 3. 23 . Toyota Tsusho Corporation. Following a detailed plant visit and presentation. Indus Motor Company increasing production capacity to over 50.000 units per year. Shimizu San mentioned that the Company will continue to expand capacity by enhancing investment in the current plant as well as consider setting up an additional plant. 2007. CEO. Shimizu San praised Indus's record breaking sales and presented the Vehicle Sales Record Award to Indus and congratulated the Indus Team in Mr Junzo Shimizu. President. Toyota Tsusho Corporation We were also honored to welcome Mr Junzo Shimizu. presenting the Vehicle Sales Record Award to Mr Parvez Ghias. President.Toyota Gymnasium Inauguration Ceremony Mr Junzo Shimizu.
Toyota Motor Corporation to Chairman IMC. President. President. Customer Service Prize for Achievement 2006 24 Toyota Marketing Award 2006 (Overall) Toyota Marketing Award for Excellence 2006 (Vehicles) .Mr Junzo Shimizu. Toyota Motor Corporation conferred recognition awards to Indus Motor for our outstanding achievements. Toyota Tsusho Corporation during plant visit Toyota Awards for Indus Motor Company During the year. These awards were presented by Mr Katsuaki Watanabe.
it is the second largest volume seller in the country amongst all passenger cars. capturing a sizable share of the economy car segment.8 VVTI engine. performance and resale.000 units sales ceremony The 50.Marketing This year marked another milestone for Indus Motor Company with record sales of 50. and overall. an MP3 audio player has been offered in its Automatic variant. the Corolla 2. has grown from strength to strength. power windows and power locks as standard options. Corolla continues to dominate as the market leader in its segment.3 XLi. known for its comfortable ride and acceleration. Corolla Diesel. rear headrests. IMC participated in the AUTO ASIA 2007 held at the Expo Centre by a display of our product range including a concept car. This invoice was signed by one of the pioneers of our Company. Mr Ayaz A Siddiqui who was retiring the same day. It is recognized as the small car with an excellent drive. is an extremely popular car liked by rural as well as urban customers. Group photograph at the 50. and the high performance ALTIS have made Corolla the highest selling brand in the 1300-2000 cc car segment. Compared to the inconvenience of frequent CNG refueling. Cuore is the only automatic car amongst small cars. CS&S (Compact Sports & Specialty) car which was especially brought to Pakistan for showcasing the technological advancement and commitment of Toyota to Pakistan's car enthusiasts 25 . Corolla Diesel is preferred by customers who are looking for both luxury with economy and fueling convenience. the powerful. To add greater luxury to this popular car. a new variant. This variant is a mid-level entry in the Diesel Corolla lineup and comes with a wooden trim.0D SE was launched in early 2007. Toyota ALTIS has established itself as the car of choice for customers who desire top features and specs with solid drive and superior performance. CD Player.0 Diesel.000th invoice was generated by IMC dealers and Chairman pressing a button. giving the promise of quality. we also increased our production. the only diesel sedan in Pakistan.557 units in a fiscal year. Our Toyota Camry has scripted its own success story. Corolla's popular 1. comfort. With its powerful. yet efficient 1. providing more pleasure in driving. Responding to customer feedback. this luxury car has overtaken people's imagination and has become the dominant brand in its segment. so that Corolla Diesel delivery times reduce further. fuel efficient 2. Concurrent with this introduction. Cuore. Launched in mid-2006. durability and reliability to its customers.
Parts Another milestone achieved during the year 2006-07 was our Spare Parts business. IMC is the only automobile company in Pakistan to achieve this milestone. We achieved 27% growth in the after sales parts business compared to 2005-06. where sales for the first time crossed the One-Billion Rupee mark. 26 Annual After Sales Kaizen Marathon was held jointly by IMC’s Service and Parts departments . through aggressive marketing and increasing customer awareness to use genuine parts for reliability and performance.
Toyota Motor Corporation and Mr Ali S.Our Dealer principals visited Kenya on their annual trip. mixing business with pleasure! 27 . Habib. Chairman Indus Motor Company present the overall Nationwide Best Dealership Performance Award to Toyota Faisalabad Motors during the 16th Annual Dealer Conference Kenya Trip .Dealerships Mr Yasuhiko Yokoi. Managing Officer.
Rahim Yar Khan and Gujranwala. all our existing dealerships are undergoing major renovations and upgrade to offer customers and their families a friendly environment to conduct sales and service business. Apart from introducing new products and auto solutions.Turkey Trip . We want our customers to have the best possible auto buying and ownership experience.Dealership and IMC staff on another trip to Istanbul which they enjoyed very much Dealership Network Expansion With increasing motorization. and Mr Mohammad Shoaib. Toyota Hyderabad Motors with IMC’s top management and Marketing Team . Chairman. Toyota Sialkot City Motors. Toyota Rahim Yar Khan Motors. 28 New Dealerships Signing Ceremony . Mr Mohammad Ashraf. four new 3S dealerships were added to our network in the cities of Sialkot. Hyderabad.(seated from left to right) Mr Zahid Jamil. our auto market is expanding and Indus wants to continue to play a lead role. CEO. Besides these. During the year. we are enhancing the spatial presence of our dealership network. CEO.
Habib. Chairman IMC inaugurating Toyota Royal Motors Toyota Hyderabad Motors (Hyderabad) Mr Yutaka Arae.New Dealerships’ inauguration Toyota Gujranwala Motors (Gujranwala) Mr Abdullah Yousuf. Vice Chairman IMC inaugurating Toyota Hyderabad Motors Toyota Sialkot City Motors (Sialkot) 29 Mr Ali S. Habib. Chairman IMC inaugurating Toyota Sialkot City Motors . Chairman CBR inaugurating Toyota Gujranwala Motors Toyota Royal Motors (Rahim Yar Khan) Mr Ali S.
Our Service and Parts Departments jointly organized the After Sales Kaizen Marathon on 20-21 February. based on Toyota Production System provides for prompt maintenance of vehicles and has strong customer appeal for speedy delivery of service vehicles with attention to quality detail.Service IMC has embarked on the development of an Express Maintenance Program with the assistance of Toyota Motor Corporation. 2007. for both increased service capacity at our dealerships as well as enhanced convenience for our customers. There is a strong emphasis on After Sales Service at Indus and its dealerships. This program. This event was an opportunity for dealers to share the best Kaizen practices implemented during the year at their dealerships leading to improved performance. 30 After Sales Kaizen Award being presented to Toyota Islamabad Motors .
Additional Secretary. Karachi. and is conducted regularly by our Service Department. A memento being presented to the Chief Guest. our Service Department conducts T-TEP (Toyota Technical Education Program) Career Days at the Govt. This contest was held at the dealership level and regional level. College of Technology. our Service Department conducted a National Skill Contest for Service Advisors. Lahore and St. which is sponsored by Indus Motor Company with the assistance of Toyota Motor Corporation. Government of Punjab Jishuken is a self learning process based on the Japanese concept of 'Genchi Genbutsu'. is a comprehensive three years automobile diploma training program where students receive practical advanced training in the latest automobile technology that enables them to find career opportunities upon graduation. General Technicians and Paint Technicians of our dealership network. T-TEP. It engages the service staff of our different dealerships to physically visit the model dealership as one team to verify and authenticate the Kaizen activity. M Khurram Agha. Capt.To enhance the skill level of Service staff. Patrick's Technical Institute. T-TEP students being trained on various automotive components 31 . The award winners and IMC team at the National Skill Contest Every year.
is to create corporate trust based on integrity and fair handling of Inquiries and Complaints by: ● ● ● ● Opening a larger window for customers Handling Inquiries and Complaints swiftly and surely Making the "Voice of the Customer" the basis for corporate renewal. Our vision in CR. the CR team focused on putting in place customer-friendly policies and procedures at Indus and its 3S dealerships to achieve quick turnaround on customer inquiries and complaints to maximize Customer Satisfaction. as per Toyota's CR Activity Ideals. Dealerships’ CR Managers and Indus CR Team at the Quarterly CR Workshop held at Swat 32 . Our Complaint Handling Procedure provides clear guidelines on how to achieve swift resolution of customer complaints. Co-ordination with key departments at the plant and dealerships helps improve teamwork and instill a customer focus that is quickly cascading throughout the Company and our Dealer network. and Improving our corporate image and educating customers to support Sales and Service activities In living up to this vision. we hope to achieve our long-term goal of becoming # 1 in Customer Satisfaction in Pakistan by implementing CR strategies and policies that will motivate CR staff to perform at increasingly higher standards.Customer Relations During the year.
A CR introduction letter with contact details of our CR team is placed in every vehicle to encourage customers to call or write to us with any complaints. identify performance gaps and provide feedback to management regularly. By doing so. we wish to bring about positive change in their knowledge. More than 2500 customers are randomly selected to provide feedback on the quality of our products as well as the quality of the Sales and Service that they experience at our dealerships. Colombo to undertake Genchi Genbutsu and see first-hand the CR practices. CR has progressed in leaps and bounds in the last one year. Since then. this performance management tool allows us to evaluate progress. for the first time ever. Relevant. Customer feedback is regularly studied by senior management at Indus and our dealerships for continuous improvement. but also to build long-term relationships with customers while promoting customer retention and loyalty. earned themselves an opportunity to visit Toyota Lanka. processes and systems adopted by a leading distributor and dealership in the region. With the above initiatives already in place. CR regularly undertakes Training in Customer Handling Skills and conducts Quarterly Workshops to keep a continuous dialogue with our dealership CR teams. skills and behaviours and improve the customer experience in their every interaction with us. The CR Performance Criteria and individual dealer Action Plans identify minimum operating standards for CR. To promote visible demonstration of Customer First policies among our customers.Toyota. inquiries or suggestions they may have. transparent and measurable. who achieved their CR performance target of 80%. 33 . classify and analyse inquiries and complaints. To reinforce our commitment to developing our people. we introduce CR to our customers each time a car leaves our plant. VOC has been implemented successfully at Indus and all 29 dealerships. This year. At Indus. It is used to record. Another way we engage customers is through the quarterly Customer Satisfaction Index and Product Quality Surveys that is conducted through an independent research agency. CR staff at our Dealerships conduct Free First Service and Regular Maintenance follow-ups and solicit Post-Service feedback to not only highlight CR in a positive way. This is clearly evident from the numerous acknowledgements and appreciation letters that we receive from satisfied customers. the top-performing Dealership CR Managers.
etc. several display and message boards were installed at prominent locations to create greater awareness 34 Quality Audit by Toyota experts . safety. KI-J involves hazards identification. We have undertaken several measures to further enhance our engineering capability. Furthermore. to enhance Safety at plantsite. For the first time in the history of IMC. by setting common targets voluntarily. Jiritsuka is a Japanese concept that means self-reliance. M-Type Jig has been installed for Hilux production which is used in the weld shop for assembly of the main body. The basic concept of KI-J is to visualize and share weaknesses globally. training and awareness sessions were conducted to enhance the capabilities of our members in the areas of Quality.Operations While your Company has continuously increased production to meet the growing demand for the products. production quality.000 cars/year. considering capability and built-in-quality and achieving these targets through team work and cross functional support. as these areas ensure Built-in-Quality. our capacity now is at an all time high of 200 cars/day or 53. KI-J stands for Kaizen Initiatives through Jiritsuka. As in other Toyota companies. In order to achieve the desired targets results. visualization and fixing problems on a priority basis. A total of 550 man hours training was provided to staff. skill development of team members. Safety and Standardized Work. standardization of work processes. KI-J activity has been initiated at IMC to further enhance the quality of product while maintaining a safe working environment. This advanced jig has the flexibility of handling the main body of all future IMV models.
the Company started the environment friendly Co-generation Power Plant. The quality of our products is directly related to the skill level of our Team Members and supervisory staff. Thailand. The skill level of our workforce is quite high. IMC secured the Gold Medal in Paint (Team Leader) category and the Bronze Medal in Inspection (Team Member) category. Abdul Riaz (Team Leader of Paint shop) receives Gold Medal and Award from Mr R Sasaki. This facility will help in reduction of carbon dioxide emissions through the use of natural gas to operate engines and turbines. Therefore.through visualization. there are on-going and continuous multi skill development programs. The activity has also enabled team members to identify hazard points and take appropriate countermeasures to create a safer working environment in the plant. Abdul Riaz will also honor IMC by representing Asia in the Global Skill Contest to be held in TMC. We took part for the first time and excelled in the Asia Pacific Skill Contest at APGPC (Asia Pacific Global Production Centre). Japan later this year. 35 Co-generation Power Plant . During the year. A group photograph of Asia Pacific Skill Contest at APGPC. President TMAP-EM.
36 IMC vendors in Indonesia during study tour . with the purpose of highlighting the annual achievements and activities carried out during the year in parts localization and skill improvement. representatives of Toyota and Daihatsu from Japan. a new Skill Training Centre to develop world-class. quality systems. The Annual Vendor Convention. Chief Engineer. extensions to our CKD Warehouse and CBU yard. our Product Guest at the Annual Vendor Convention receiving a memento from Development department Chairman. The purpose of these visits was to support our local vendors in improving their production. IMC organized study visits to vendors in Thailand and Indonesia during 2006 and 2007. Chief practices. was held in December. In order to enhance our learning from global Mr Shinichi Yasui. and the Indus team were present. several other projects are also being implemented. Continuous improvement is a process that is New Jig Shop pursued.As part of our on-going plant expansion. These include a new Jig Shop for making jigs for future models. We work very closely with our vendors and hold Vendor Workshops regionally in Karachi and Lahore. with the theme "Go See the World". both at Indus and at its business partners. and Visual Management Systems. The visits also helped in learning the best practices of foreign parts manufacturers by understanding the implementation of 5S. Japan. 2006 at Karachi. Automobile vendors from all over the country. These workshops discuss in detail the Production Plan and Quality and Delivery performance against predetermined targets. quality-conscious team members as well as expansion and upgrading of our Canteen Block to cater to the increasing members of our workforce. tool/checking fixtures designing and development. Genchi Genbutsu. This open and useful interaction with our vendors has played a major role in enhancing the performance of our Product Development Department. Toyota Motor Corporation.
Human Resource Development Indus continued its thrust for fast paced employee and organization development programs consistent with its present business needs and future growth plans. training at 112. 37 . Several initiatives materialized with full participation and support of line management. The trainings targeted technical skills as well as soft side competencies. It is designed to boost core and multi-skills trainings and refreshers for the production staff. Meaningful upgrades were implemented in all key areas of Human Resource Management and Organization Development to keep the processes current and aligned to the best in the industry. in addition to the existing facilities. commitment and pride in the brand. The survey results were encouraging in terms of employee satisfaction. Indus has completed around one million man-hours training since inception. construction of an impressive Technical Training Building was undertaken. Around 400 apprentices were inducted during the year and given quality class room and on-the-job training. On the infrastructure side. IMC participated in the TMC Global Employee Morale survey which covered all regional affiliates. The Indus top team participated in these sessions. On a cumulative basis. Interactive sessions with diverse employee groups were held after the survey to work towards continuous improvements. The Apprenticeship Training Program continued to be pursued aggressively. Human Resource Department During 2006-07. The project is planned for completion in September 2007.000 man-hours was up 13% compared to the same period last year.
General Secretary of Indus People Workers Union and Tariq Quddusi Sr. 38 . The Collective Labor Agreement due for negotiations in April 2007 was successfully concluded.Indus has excellent labor-management relations. Zulfiqar Ahmed. The occasion was also used to recognize employees with the Best Attendance Award. Salman Ansari from PPMC and Noman-ul-Haq from Assembly Shop were selected through balloting. The traditional IMC Family Day was organized with its usual enthusiasm and excitement at the PAF Museum lawns. 2009. GM Technical sign the Collective Labor Agreement The Company instituted its Hajj Policy for the team members. Negotiations were held in a very cordial and professional environment. Over 3600 employees and their family members attended this event. Two lucky team members. The new agreement covers twenty four months period up to March 30.
under privileged students and assists over two dozen schools and educational institutions. School at Deh Mehrani. HOPE. In November 2006. is used by Habib Public School for its own events as well as for inter-school tournaments and extra curricular Activities. People from several villages get relief goods and medical treatment We are amongst the first to respond when natural calamities affect our beloved country. The Company sets aside 1% of profit before tax for social projects and contributions. "Concern Beyond Cars".Indus Motor Company Campus II School Complex at Deh Mehrani near Hyderabad was completed. construction of the TCF . which was constructed with the assistance of IMC and Toyota Motor Corporation. Your Company provides 50 Scholarships each year to deserving. In the recent floods that hit Balochistan and Sindh after cyclone "Yemyin". we also serve in many areas of Pakistani society. We provide internships in different departments of the Company to engineering.000 man-hours of training since inception. a state-of-the-art gymnasiumcum-auditorium was inaugurated at the Habib Public School. as a good corporate citizen. but as after the earthquake of Oct 8. This year. in interior Sindh and set up a medical camp treating over 1000 patients and providing food and temporary shelter to 100 families. The project is planned to expand to Secondary Level in the near future. 2005. we also conducted relief operations working with an NGO. reflects what we really are. the project has started a Primary School that is currently providing education to over 360 students from rural villages in the vicinity. This facility. In the first phase.Corporate Social Responsibility Our slogan. We are not just a Company that makes cars. . we immediately responded by not only donating dry food rations for airlift to Balochistan. While doing our utmost to satisfy customers. near Hyderabad 39 At Indus. We go beyond. accounts and IT students of various universities from within and outside Pakistan. we run a very successful Apprenticeship Program that has done over 400. business.
road users. their parents. we have taken several initiatives to try to improve Road Safety. 40 Toyota Road Safety Walk in which about 1500 school children.000 children in nearly 100 schools. the Indus Team and other safety conscious citizens participated . Our Road Traffic Injury Research Project with JPMC and NED for evaluating the nature. location and magnitude of traffic injuries in Karachi has generated invaluable data that is very useful for traffic police. NGOs. The Road Traffic Injury Research Project Team collecting data from road accident victims and entering into the database In order to promote road safety amongst school children. we have started an All Pakistan Engineering Students Design Competition in which engineering students from different universities will work on real engineering problems and design technical solutions. particularly in the area of robotics. your Company. As a leading Company in the auto Engineering students participate in the Design Competition at IMC sector. road designers. in partnership with WWF and Family Educational Services Foundation (FESF) conducted an extensive Toyota Road Safety Campaign targeting around 25. etc.In continuation of our commitment towards spreading technology. hospitals.
Health Sector. Education Sector and Road Traffic System. 2007) as a member of United Nations Global Compact. Minister of Industries. Government of Sindh addressing the final session of the National Auto Journalists Workshop IMC is a major promoter of sports and during the year sponsored a number of sporting events across Pakistan. To encourage auto journalism in Pakistan and to develop professionalism and capacity building in the field of Auto Journalism. Engineering Sector. we also undertook a number of other activities. The Prime Minister presenting the key of a Toyota Corolla to the winner of Hole-in-One at the Pakistan Open Golf Championship 41 Mr Jahangir Khan Tareen. we held Pakistan's First National Auto Journalists Workshop on May 29. 2007. The workshop was conducted by an international expert on Auto Journalism. With participation of about 500 people. These included the 1st National Road Safety Conference which was organized with the help of Sindh Education Foundation on April 24. Lahore . Chief Guest. Mr Salahuddin Haider. We announced the launch of the National Auto Journalists Annual Award at the event. Advisor Information. the conference aimed at initiating a dialogue with different stakeholders on road safety issues and developing recommendations through five working sessions on Corporate Sector.During the UN Global Road Safety Week (April 23~29. Production and Special Initiatives with the winning team at Toyota Polo Cup. 2007.
educational institutions. customers. etc. shareholders. we welcomed over a thousand visitors including senior management from TMC. defense organizations. altogether. Mohiyuddin. Mr Arif Nizami. banks. associations and trade bodies. financial analysts. shareholders. regulatory departments. companies from the private sector. delegations from government organizations.During the year. engineering companies. QA & SHE receiving the award. TTC and DMC. IMC received the Environment Excellence Award for the fourth consecutive year. Editor of The Nation during the plant visit . press and media. Mr Choudhry Amir Hussain (Speaker National Assembly) does a plant tour Dr Ashfaq Hassan Khan (Economic Advisor to Prime Minister) observes our manufacturing processes 42 In recognition of the efforts to protect the environment. Mr M. Sr GM.
The Management Association of Pakistan presented us a Corporate Excellence Award in the Engineering and Allied Sector. Prime Minister of Pakistan In appreciation of its CSR initiatives. we reaffirm our commitment to demonstrate responsible corporate conduct in all our activities and operations.Mr Parvez Ghias. 43 . from Mr Shaukat Aziz. Director LAC receiving the CSR Award from Mr Mian Muhammad Soomro. In consonance with our Company's vision of being the most respected and successful enterprise. and to do our best to meet societal expectations. Indus Motor Company receiving the PCP Award for the 3rd Largest Corporate Donor in Pakistan. Mr Saeed Jung. CEO. The Award was presented by the Prime Minister. Indus Motor received the Pakistan Centre for Philanthropy (PCP) Award for the third largest donor in Pakistan. Chairman Senate Corporate Excellence Award in Engineering & Allied Sector from MAP Indus Motor received the First Helpline Trust CSR Award for its "commitment to customers as well as the community within which it operates".
this decision. we continue to increase capacity to meet the requirements of our customers and will make full efforts in being competitive in both cost and quality. We are grateful to the government for its efforts to reduce the inflow of used cars into the country by restricting imports of vehicles older than three years. Habib Chairman 44 . Education and Health. our business partners and other stakeholders.Future Outlook The success of any sector is largely dependent upon the economy as well as the policies that govern the sector. However. We continue to do our best in providing them the best designed. in delivering maximum value to our customers. employment and sustainability of the domestic auto industry. As a member of the UN Global Compact and a Concern Beyond Cars. particularly in the areas of Road Safety. and in working very closely with the industry. For the auto industry and. We bow to Allah and pray for His blessings and guidance. On our part. There are challenges ahead for us from the perspective of rising interest rates also. are making a significant impact. I would also like to thank our Indus Team. indeed for the country to grow. announced in June 2007 has been postponed for implementation till September 2007. our dealers and vendors and business partners. This is a positive step which will enhance the confidence of local auto manufacturers and auto parts assemblers and will encourage further investment. Our CSR projects. we will strive to be the most respected Corporate Citizen and will continue to enhance our social initiatives. Our country has witnessed economic growth in recent years and we are pleased that this year the Auto Industry Development Plan has been finalized. we pray that the political and business environment continues to remain stable. most durable and high quality products as well as efficient after sales service. I thank our Board of Directors and the management team for steering the Company towards another successful year. We are grateful to our customers for buying and driving our vehicles. Ali S. our shareholders.
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