Tag: Local Production
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Pakistan sets sights on $5 billion smartphone exports by 2029
Pakistan’s mobile phone industry is experiencing a significant boom, with plans to export smartphones worth $500 million in the next two years and an ambitious target of $5 billion in the next five years, according to the Federal Minister of IT and Telecom, Dr Umar Saif.
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Toyota IMC unveils locally-made Toyota Corolla Cross Hybrid in Pakistan
Indus Motor Company (IMC) celebrated the launch of the 4th generation Toyota Corolla Cross Hybrid Electric Vehicle (HEV) at its manufacturing facility in Karachi.
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Inventory shortage forces Pak Suzuki to temporarily halt operations
Pak Suzuki Motor Company (PSMC) announced on Wednesday that it will temporarily halt operations at its automobile plant from February 13th to 17th, due to an insufficient inventory. The management of Pak Suzuki, the local assembler, manufacturer, and marketer of Suzuki vehicles and related spare parts, has informed the Pakistan Stock Exchange (PSX) that it…
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Honda City 1.2 manual now costs more than Rs4.3 million after latest price hike
Honda Atlas Cars Limited (HACL) has once again raised its car prices for the second time in two weeks. The company attributed the increase to rising inflation and a depreciating local currency. Below are the new prices for all Honda cars: Car Old Price (Rs) New Price (Rs) Hike (Rs) City 1.2 M/T 4,069,000 4,329,000…
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Pak Suzuki increases motorcycle prices by up to Rs25,000
Pak Suzuki Motor Company Ltd. (PSMCL) has increased motorcycle prices by Rs20,000-25,000, effective February 1st. The new rate for GD110 S, GS150, GSX125, and GR150 is Rs264,000, Rs286,000, Rs384,000, and Rs410,000. However, the company’s communication to authorised dealers lacked any explanation for the price increase. PSMCL had temporarily ceased taking new bike orders as of…
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Pak Suzuki announces second plant closure in less than 10 days due to parts shortage
Due to a persistent lack of imported components and accessories, Pak Suzuki Motor Company Ltd (PSMCL) has prolonged the factory shutdown from January 9 to 13 after keeping manufacturing operations paused from January 2 to 6. However, the business stated in a stock filing on Friday that the motorbike facility will continue to be in…
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Pakistan’s biggest tractor manufacturer announces to shut down operations
The biggest manufacturer of agricultural machinery in Pakistan, Millat Tractors Limited, has stated that it will cease operations starting on January 6 and continuing till further notice, citing weak demand and cash flow issues.
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Pak Suzuki discontinues Bolan’s AC variant after one year
Pak-Suzuki Motor Company (PSMC) will no longer sell the Suzuki Bolan’s AC variant. After almost 15 years, this variation was finally introduced last year, and tragically, its production will cease once again. The company’s decision to stop producing the AC variant of the Suzuki Bolan is a blatant indication that it has failed to pique…
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Pak Suzuki suffers losses of Rs17.23 million due to rising production costs
Pak Suzuki Motor Company Ltd. (PSMC) reported its half-yearly results, which were completed on June 30, 2022. The company reported a net loss of Rs17.23 million against a net profit of Rs1.19 billion, according to the automaker’s latest filing on the Pakistan Stock Exchange (PSX). According to Mettis Global, the company’s sales revenue climbed 30…
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Govt lifts import ban on luxury goods with heavy duties
On the recommendation of the International Monetary Fund (IMF), the Federal Minister for Finance and Revenue, Miftah Ismail, announced lifting of the ban on the import of luxury and non-essential goods on Thursday. He added, however, that the Regulatory Duties (RDs) would be increased significantly to deter the import of such items. “It is requirement…