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Tuesday, November 12, 2019
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ISLAMABAD: The federal cabinet on Tuesday approved an ambitious national Electric Vehicles (EV) policy under which a target has been set to convert 30 per cent of four- and tri-wheelers in the country into electric vehicles. The cabinet meeting, chaired by Prime Minister Imran Khan, also endorsed his decision on visa-...
KARACHI: In line with expectations, Indus Motor Company’s profit took a hit as earnings declined 62.4% to Rs1.32 billion in the quarter ended September 30, 2019 owing to deteriorating volumes. The company had posted a profit of Rs3.51 billion in the same period of previous year, according to a notice sent...
KARACHI: Pakistan’s auto sector is in trouble and many analysts have termed the current phase an all-time low for the industry. From only three players initially, which dominated the market, a handful of new companies expressed interest in investing in the sector in the past couple of years. Some of these...
KARACHI: Depressed demand in the auto sector has led to a drop of 27 per cent in overall import of completely- and semi-knocked kits (CKD/SKD) to $261 million in first quarter of the current fiscal year. imports Of the total imports, arrival of CKD/SKD kits for heavy vehicles plunged to $67m...
KARACHI: Vendors have shown exit doors to thousands of daily wage workers, outsource employees and contractual workers from July until date following massive decline in sales in the overall auto sector. Pakistan Association of Automobile Parts and Accessories Manufacturer (Paapam) Chairman Capt (retd) Mohammad Akram told Dawn on Saturday that he had...
KARACHI: Owing to a slump in the auto sector, Indus Motor Company (IMC) and Honda Atlas Cars will continue their non-production days but will not completely shut down their plants. plant “Company will continue non-production days,” said an Indus Motor spokesperson while dismissing rumours of a complete shutdown of its production plant. Separately,...
KARACHI: At a time when Pakistan’s auto sector is going through turmoil and existing players are slashing operational days, Hyundai Nishat Motor (Private) Limited has launched a new car along with a digital store. Ioniq Hybrid, which has a 1.6-litre GDI engine and priced at Rs6.399 million, was unveiled at the...
KARACHI: Taking advantage of high sales, Pak Suzuki Motor Company has raised prices of its Alto 660 model by up to Rs85,000 to compensate for its dwindling revenue. The company has increased the price of Alto VXR from Rs1.238 million to Rs1.308 million while the price of Alto AGS has been...
KARACHI: Pak Suzuki Motor Company has raised the price of its high-end vehicle model Vitara GLX by a massive Rs560,000 to Rs5.55 million, according to a company notice sent to authorised dealers. The vehicle – previously priced at Rs4.99 million – will become costlier with effect from October 1. “The increase of...
KARACHI: Bike sales showed contrasting trend as some assemblers, after enjoying a good FY19, faced precarious sales during the first two months of FY20 while for many manufacturers the current fiscal year is almost as volatile as the preceding one. The country’s total bike production fell by 13 per cent...

Opinion

billions tax

Tax plans san debate!

According to a Press report, Chairman Federal Board of Revenue (FBR), Shabbar Zaidi, has shown flexibility over establishment of Pakistan Revenue Authority (PRA) after...