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KARACHI: Despite repeated hikes in prices of passenger cars due to multiple rounds of rupee depreciation, Indus Motor Company’s (IMC) profit fell 10% to Rs3.4 billion in the October-December quarter of financial year 2018-19. The automaker had reported a profit of Rs3.7 billion in the same period of previous fiscal year....
LAHORE:  Benefits of the Automotive Industry Development Policy 2016-21, which has been called ‘radical’ by many, have been widely discussed since the previous government announced it to break the monopoly of existing Japanese car manufacturers in the country. However, a well-defined structure is still missing as gasoline quality remains a big...
ISLAMABAD: Belarus is willing to support the joint production of tractors in Pakistan along with other farm machinery, said Belarus’ Deputy Minister Dmitry Korchik on Tuesday. He said that Belarus needs support to find new partners for production of Belarusian tractors to broaden its agro-machinery partnership in Pakistan. He acknowledged...
KARACHI:  Sales of locally produced vehicles, especially cars of small engines, fell 4% in January 2019 as multiple price hikes and a continued ban on non-filers of tax returns discouraged many buyers. Sales came in at 22,513 units last month compared to 23,562 units in January 2018. Auto companies have increased prices...
KARACHI:  Kia Lucky Motors Pakistan Limited (KLM), one of the eight new prospective entrants into the automobile sector, has announced that it will begin commercial production of vehicles by September 2019. “ targets to start production in the first quarter of financial year 2019-20,” read a notification sent to the Pakistan...
KARACHI:  The auto industry is feeling the lagged impact of the six-month-old decision of the previous government, which barred non-filers of tax returns from purchasing new vehicles. The impact of the restriction, which was removed in the mini-budget announced on Wednesday, is reflected in the financial results announced by Honda Atlas...
KARACHI:  In a bid to provide relief to the car manufacturing industry, the Pakistan Tehreek-e-Insaf (PTI) government has lifted the restriction on new vehicle purchase by non-filers of tax returns, who can now buy cars of up to 1,300cc engine capacity. However, the government has decided to increase the rate of...
LAHORE: The country’s three major auto assemblers are revising down their monthly production schedules from this month anticipating a significant sales slowdown in the second half of the current fiscal year. The Pakistan Automotive Manufactures Association (Pama) said the move comes on the back of a budgetary restriction that bars...
ISLAMABAD: The large-scale manufacturing sector shrank 0.6 per cent during November, the Pakistan Bureau of Statistics (PBS) reported on Wednesday. The sector’s performance also remained lack lustre during 5MFY19 as it declined 0.9pc year-on-year due to dismal performance of pharmaceuticals, petroleum products, iron and steel products, and electronics. The LSM decrease...
KARACHI:  Pakistan’s auto sales recorded growth month-on-month in December 2018 for the first time in the last 12 years, according to the Pakistan Automotive Manufacturers Association (PAMA). Car sales rose by 11% on a month-on-month basis. This is the first time since December 2005 that auto sales grew in December on...

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exports

Slow growth in exports

The performance of exports in the first eight months of 2018-19 has been disappointing. According to the monthly trade statistics of the PBS the...