Trucks jan2014

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bq | COVER STORY l TRUCKS

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Qatar

ON THE ROAD AGAIN

The influx of infrastructure projects in the Gulf region and Qatar has pushed the demand for trucks up. While this is good news for truck dealers, does it translate into business for the truck owners? By Rajeev Acharya, Doha

The bulk of any nation’s economy rolls on eight to 18 mighty wheels. Trucks move products of agriculture, raw materials, intermediate goods and spare parts to manufacturers; and ship finished goods from factories to wholesalers and retailers. In Qatar, a country that imports via land, sea and air, most of its products in the absence of self-sufficient manufacturing or food industries, the trucking industry however, doesn’t figure as a barometer for measuring the economy’s health. In fact, ever since the Asian Games in 2006, trucks continue to be given short shrift. At the peak of construction activity during the exciting build-up to the Asian Games, a sudden and feverish surge in demand for trucks led to a mad rush among individuals as well as smaller companies to procure the vehicles to make a fast buck. Some did make money but the opportunity attracted a few swindlers as well who took advantage of the situation, made their millions and fled, taking innocent investors for a ride. One such company, that sprang from nowhere, announced it was taking trucks from whoever could supply them on a monthly rental basis so they could provide fleets to construction and contracting companies that were badly in need of vehicles due to the massive projects they were working on. The company even paid monthly rents in advance through post-dated cheques to truck owners to make the whole business seem legit.

www.bqdoha.com

bq january araboc pages.indd 22

12/24/2013 7:44:23 PM


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