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LAHORE: Al-Ghazi Tractors Limited (AGTL) has requested the Federal Board of Revenue’s (FBR) anomaly committee to end general sales tax (GST) at the import stage, which is resulting in liquidity challenges and considerable financial cost for the tractor industry. In a letter sent to the committee, the company pointed out that...
ISLAMABAD:  The whole world is moving towards electric vehicles (EVs), especially the industrialised and industrialising countries. There are targets of 30% market share in sales of EVs in 2030. Reportedly, deliberations are going on in Pakistan between the government and different stakeholders for preparing an EV policy. "Automotive Industry" There are...
KARACHI: The auto sector continued to face headwinds in May 2019 as sales of cars and light commercial vehicles (LCVs), heavy vehicles, tractors, bikes and three-wheelers felt repercussions of a slowing economy. Sales of cars and LCVs declined 18% to 17,891 units in May compared to 21,813 units in the same...
LAHORE:  The auto parts manufacturing industry has criticised the proposed national electric vehicle policy as regional countries like India, Thailand and Indonesia are treating hybrid electric vehicles (HEV), plug-in hybrid electric vehicles (PHEV) and battery electric vehicles (BEV) under one policy to curb fossil fuel utilisation. “Each country is safeguarding its...
LONDON:  Today’s economies have changed due to development in emerging markets, accelerated growth in technology development, sustainability policy initiatives and consumer preferences. The automotive sector identifies four disruptive technology-driven trends – diverse mobility, autonomous driving, electrification and connectivity. Another perspective in the automotive revolution which highlights concerns further and could help formulate...
ISLAMABAD:  The Federal Board of Revenue (FBR) has requested the government to approve an amnesty scheme for the clearance of over 1,000 refurbished cars stuck at the Karachi port after change in the import policy. An FBR summary has been sent to the government for approval in this regard. As per the...
LAHORE: Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) has requested the prime minister to save the local auto parts manufacturing industry by not accepting any proposal for the import of used cars. In a letter to PM Imran Khan, Paapam Chairman Muhammad Ashraf Shaikh stated that they were against...
LAHORE: The plan to import cheaper RON 80-82 petrol in response to a unilateral proposal without consulting the motorcycle manufacturing industry would reverse growth of the fast-progressing industry, said Pakistan Automotive Manufacturers Association (Pama) Director General Abdul Waheed Khan. PAMA, in a letter to Standing Committee on Petroleum Chairman Senator Mohsin...
KARACHI: In a bid to safeguard Al Futtaim-Renault investment of $165 million, Adviser to Prime Minister on Commerce and Industry Abdul Razak Dawood on Thursday assured full cooperation and support to Al Futtaim in resolving various issues. Faisalabad Industrial Estate Development and Management Company (FIEDMC) arranged the meetings in Islamabad...
KARACHI: Manufacturers of two and three-wheelers and auto loaders jacked up prices in the range of Rs500-Rs10,000 citing rising raw material prices in the international market and recent bouts of currency devaluation. Crown Motorcycle, manufacturer of bikes and loaders, raised prices by Rs2,000-5,000 on Thursday. In addition, rickshaw and motorcycle...

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A tale of two budgets

About a fortnight back the Indian Government announced its first post Elections 2019-20 Budget, and it will be interesting to see how it compares...