Pakistan

Auto analysts criticise ‘faux pas’ budget | The Express Tribune

Published

3 مہینے ago

جون 23, 2024

l955w

KARACHI:

Auto sector analysts described the federal budget for 2024-2025 as a faux pas and called for a 24-year sustainable policy for all industries, including the auto sector. They emphasised that the government must involve the cabinet, political parties, and industrialists to form this long-term strategy without delay.

Sustainability is crucial for industry growth, but local policies change frequently, often after a news bulletin, forcing business leaders to constantly adjust their decisions. This volatility makes business and investment in the country very risky. The auto industry, in particular, has faced challenges for two and a half years and may continue to do so next year.

Analysts urged the government to adopt serious austerity measures and make sacrifices to boost the morale of locals, industrialists, and the salaried class. These groups have faced significant challenges, exacerbated by new taxes on salaries and the overall industry in the budget.

Auto Sector Analyst and IBA Assistant Professor Dr Aadil Nakhoda said the budget is likely to affect car buyers’ purchasing power, as increased taxes may deter them. However, a shift to price-based taxation could lead to dynamic changes, making price competition more important in price-sensitive segments.

The government has withdrawn several incentives for EVs and hybrids, which may not be ideal given the need to adopt this technology. The government should consider relaxing import constraints, particularly on parts and components, to allow the industry to recover and offer consumers more options. A consumer-centric approach is necessary, as consumers have already been burdened by inflation and taxes over the past few years.

Auto Sector Analyst Mashood Khan remarked, “The budget does not suit the overall industry, including the struggling auto industry, which has been facing difficulties for over two years. One laudable aspect is the slight restriction on new or used Completely Built-Up (CBU) units, though this is not a long-term strategy. While it benefits the local industry to some extent, it is not sufficient.

The government must support local industry, providing incentives to spur industrialisation and encourage industrialists. The budget’s impact on the auto industry is neutral; industrialists are already experiencing challenges and will likely continue to do so.”

Khan noted that the bike industry is performing better, and the tractor industry has gained momentum. However, the lack of incentives for the bus and truck industry is disappointing. The government should have provided incentives to encourage the purchase of local buses and trucks instead of imports.

He stressed that the government, bureaucrats, policymakers, and the Special Investment Facilitation Council (SIFC) must recognise that the industry is key to resolving the economic crisis. A 24-year-long industrial policy is essential to revitalise industrial growth quickly.v

Related Topics:analysis analysts Auto budget Budgets criticise Express faux Pakistan pas Tribune

Up Next

Could a poorly-crafted budget be the end of the IT boom? | The Express Tribune

Don't Miss

Battle over assets Electric vehicle startup nears liquidation | The Express Tribune

Click to comment

Pakistan

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

Published

6 گھنٹے ago

ستمبر 20, 2024

l955w

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

You may like to read our these stories

Yamaha Bikes Latest Price in Pakistan May Update

Pakistan

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

Published

7 گھنٹے ago

ستمبر 20, 2024

l955w

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.

Beware of These Illegal Housing Societies in Lahore – September 2024 Update

Pakistan

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

Published

8 گھنٹے ago

ستمبر 20, 2024

l955w

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.

Suzuki Bolan Price in Pakistan

Pakistan

Gold prices reach historic high in Pakistan – Pakistan Observer

Published

9 گھنٹے ago

ستمبر 20, 2024

l955w

Your source for latest Pakistan, world news. Stay updated on politics, business, sports, lifestyle, CPEC, and breaking news. Accurate, timely, and comprehensive coverage.