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Short-term inflation reverses trend with 0.11% spike | The Express Tribune

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KARACHI:

The short-term inflation gauge, called the Sensitive Price Indicator (SPI), resumed its uptrend as it rose 0.11% in the week ended May 30, 2024, driven by the hike in food prices.

With the fresh SPI reading, a six-week falling streak has come to an end, according to the Pakistan Bureau of Statistics (PBS).

Inflation outlook suggests that food prices may stay high ahead of Eidul Azha in mid-June since consumption of vegetables like tomatoes and onions will rise significantly around the festival.

The increase in prices of essential commodities may provide an excuse to the central bank to keep its policy rate unchanged at the record high of 22% in the monetary policy meeting on June 10.

However, a likely sharp fall in the benchmark monthly inflation, measured by the Consumer Price Index (CPI), to over two-year low at 13-13.5% in May 2024, compared to the multi-decade high of 38% in May last year, may force the central bank to make the first policy rate cut in four years by around 100-200 basis points, according to market players.

It is imperative to slash the policy rate for reviving economic activities and creating job opportunities for new entrants.

According to the PBS, the SPI surged 21.40% in the week ended May 30, 2024 compared to the same week of last year. The SPI comprises 51 essential items and their data is collected from 50 markets across 17 cities of the country.

During the week under review, out of the 51 items, prices of 14 (27.45%) items increased, rates of another 14 (27.45%) items decreased while 23 (45.10%) items saw no price change compared to the previous week.

The week-on-week inflation rose 0.11%, led by tomato prices, which rose 11.25% to Rs65.56 per kg compared to Rs58.93/kg in the previous week. It was followed by onions, which cost 3.62% more at Rs100.54/kg compared to Rs97.03/kg.

Mash pulse price increased 2% to Rs556.67/kg compared to Rs545.75/kg a week earlier. Banana price went up 1.78% to Rs147.20/dozen compared to Rs144.63/dozen. Potato price rose 1.23% to Rs89.96/kg compared to Rs88.87/kg in the prior week.

Prices of other essential commodities increased up to 1.17% including curd, gram pulse, fresh milk, cigarettes, energy savers and georgette.

The 21.40% YoY increase in inflation was fuelled by gas charges for Q1, which shot up 570% compared to the same week of last year. It was followed by onion as its price surged 81.78%.

Published in The Express Tribune, June 1st, 2024.

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Pakistan

Honda CD70 Dream Latest Price, Installment Plans – Sep 2024 Update – Pakistan Observer

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Honda remains leader in bikes market, with its top-selling units like CD 70, and that’s without making any major changes as the entry-level bikes look almost same for a long time. As the CD-70 remains its most selling model, bikes like the CD-70 Dream and Pridor are considered a niche products.

Despite failing to achieve top sales, CD 70 Dream is still in the market, featuring air-cooled, 4-stroke engine that delivers smooth performance and impressive fuel economy, often averaging around 60-70 km/l, making it ideal for daily commuting.

The bike looks better with stylish and modern design with attractive graphics, as compared to simple CD70. People also like its comfort as built quality remains optimum, comparing to other players.

Its pricing makes it accessible to a wide audience, including students and working professionals, solidifying its status as a favorite among motorcycle enthusiasts in Pakistan.

As bikes prices remain out of hands, people are having hard time to upgrade their ride while companies also face low sales.

Honda CD 70 Dream Price

The price of Honda CD70 Dream is Rs168,900 in September 2024.

Honda CD 70 Dream Installments

Installment Plans Monthly Payments 
3 months Rs56,300
6 months Rs28,300
9 months Rs21,890
12 months Rs17,200
24 months Rs10,170
36 months Rs7,800

 

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Check Property Ownership in Lahore, other Punjab cities Online – Pakistan Observer

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If you live in Lahore or any other city in Punjab; you might have faced difficulties in getting land record in previous years, but now the government made the land verification process smooth with digitization.

To curb the menace of land mafia and to help residents of Punjab, the government rolled out a systematic process and also eased the process of property transfers and real estate transactions.

A new verification system is Live by provincial authorities to check the legitimacy of properties available for purchase or investment across the region of 110 million people.

The relevant authority in this regard is Punjab Land Record Authority which oversees management and maintenance of land records. You can get different services, including ability to search for and view land records, as well as request copies of documents.

Check Property Ownership Online 2024

Here’s Step by Step Guide To Check property ownership

Step 1: Please visit PLRA portal at Punjab-zameen.gov.pk.

Step 2: Find ‘Property Registration,’ on home and click on https://rodportal.punjab-zameen.gov.pk/.

Step 3: It will ask you to select your district and service center.

Step 4: You can search by different options including Bahi number, ID card, registration number, or by person name.

Step 5: After entering details, please advance to ‘Search’ to get the land ownership.

With latest updates, you can check data on number of property transfers in last 36 months.

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Suzuki Bolan discontinued in Pakistan after 36 years; Here’s replacement for ‘Carry Dabba’ – Pakistan Observer

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LAHORE – Finally, it’s time to say goodbye to the iconic Suzuki Bolan as Pak Suzuki pulled plugs to replace the minivan with another model. Over the last 3.5 decades, Suzuki Bolan enjoyed decent sales and was valued for its flexibility, serving a multi-passenger vehicle and for commercial purposes.

Amid shift in auto landscape in Pakistan, Bolan becomes latest drive to be discontinued after Suzuki Mehran, which you can still spot.

Pictures of Suzuki Bolan’s last batch surfaced online, and Pakistanis hit nostalgia as many grew up in this vehicle. The final chassis number marked as 01151691. The country’s oldest automaker and maker of Bolan also confirmed discontinuation of the 800cc Carry Dabba.

The company decided to replace Bolan for its outdated design and lack of safety features. Amid its low sales, consumer demand for a modern replacement like Changan Karvaan increased.

Suzuki Every to Replace Bolan

Suzuki earlier mentioned that Every will replace Bolan, and one of its recent model was unveiled at a recent auto show.

The launch of Every models faced delays due to import challenges and it is expected to launch in mid October.

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Gold prices reach historic high in Pakistan – Pakistan Observer

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