7 May 1999
DAILY REVIEW FROM TATARSTANOka Car To Be Produced In Pakistan
Tatarstan's First Deputy Prime Minister Ravil Muratov and Pakistani Finance Minister Iskhak Dar signed an agreement on the assembly of the small car Oka in Pakistan, Tatar radio and television reported. A joint venture between the KamAZ truck concern and the PAKO company was created during a visit by a Tatar governmental delegation to Pakistan. The production and sale of Oka will start in the next six months. It was also agreed that trucks and buses would be also eventually be produced by the joint Tatar-Pakistani company.
KamAZ Shows Profit
The KamAZ truck plant was profitable last month, Tatar television reported. All of KamAZ's plants, except its foundry, made money, and the concern had a 12 million ruble profit in April. Some 85 percent of sales were in cash. KamAZ General Director Ivan Kostin said that changes in the mentality of top managers and personnel was the reason for the success.
Ukraine Develops Engine For New Tatar Plane
Ukraine's Zaporozhye machine-building designers' office has developed the AI-22 engine for the TU-324 aircraft. The TU-324 will be produced at the Gorbunov air industrial association. The engine is to be manufactured by the Gorbunov plant in conjunction with the Zaporozhye Motorsich company, Tatar radio and television reported.
Defense Enterprises Hope To Increase Exports
Tatarstan's defense industry enterprises hope to raise exports by 15 percent. Mikhail Tikhonov, a representative of the Rosvooruzheniye company in Tatarstan, said in an interview with Tatar-inform that foreign trade partners in the republic are interested in the production of the Radiopribor, Electropribor, and Elecon companies. He said special interest has been shown by the countries of southeastern Asia, mainly India and China. A big part of trade turnover consists of spare parts for Tatar-produced machines and equipment.
Tatar-Uzbek Firm Set Up
A joint Tatar-Uzbek venture called Oktan has been created to restore the deteriorating economic relations of the two republics. Umida Sabirova, Tatarstan's permanent representative in Uzbekistan, said in an interview with Tatar-inform that in the last years, the volume of trade and economic cooperation between Tatarstan and Uzbekistan has fallen significantly. But she expressed a hope that the newly created Oktan company will improve the situation. She said the Oktan will be involved in settling the debts of Uzbek companies to their Tatar partners. Sabirova didn't give the total debt but said that it is large. She said that the main trouble in settling debts is the fact that Uzbekistan's som isn't convertible. Sabirova said that the Oktan company will be also represent Tatarstan's Airlines in Uzbekistan.
Tataneft Rating Lowered
The international Standard & Poors' agency has lowered the rating of the Tatneft oil company from CC to D- default, Tatar radio reported. The rating was downgraded after Tataneft failed to repay $13.5 million on the coupon account for its Eurobonds on 29 April.
Compiled by Gulnara Khasanova