Business

Web Desk — After a huge price shock of Rs760,000 to Rs3.16 million in July, Indus Motor Company (IMC) on Monday reduced the vehicle prices by Rs260,000 to Rs1.140 million citing the rupee recovery against the dollar. As per a circular issued to its dealers, IMC cut the price of all Toyota Corolla models by Rs330,000-440,000 followed by Rs260,000-Rs310,000 in …

Web Desk — To commemorate Pakistan’s 75th Independence Day, Atlas Honda launches a special CB125F motorbike. Bike enthusiasts could not help discussing the special CB125F after its pictures appeared on social media recently. Honda CB125F Independence Day Unique Colour-Scheme It features a white body and green decals, sporting a white and green color scheme. Standard models come in red, black, …

Web Desk — Hyundai has increased the prices of its cars up to Rs830,010. The automaker enhanced the price of Elentra 1.6 from Rs4.341 million to Rs5.099 million. It increased the price of Elentra 2.0 to Rs5.499 million after a hike of Rs500,510. The company’s Sonata 2.0 became costlier by Rs830,010 to Rs7.899 million. It increased the price of Sonata …

Web Desk — CEO of the Ghandhara Group, Ahmed Kuli Khan Khattak, deplores the practice of “own money” — a premium charged over and above the quoted price of a vehicle for immediate delivery — terming it a curse. Opposing the practice, he called on the government to make regulatory changes to curb this “illegal practice”. He was talking to …

Web Desk — Lucky Motor Corporation Ltd (LMCL) has emerged as the first company to pass on the huge impact of the rupee’s devaluation by raising prices by up to Rs1.1 million. In a circular to its authorized dealers on Tuesday, the company said the price of two models of 1,000cc Picanto (manual and automatic including capital value tax) has …

Web Desk — State Bank of Pakistan has reported that Pakistan received record remittances of over $31 billion in the financial year 2021-22 (FY22), an increase of 6.1 percent over FY21nk. The central bank said remittances in June FY22 were 18.4pc higher than the previous month, showing an increasing trend. However, remittances in June were only 2pc higher than in …

Web Desk — President & CEO of U Microfinance Bank Limited (U Bank) Mr Kabeer Naqvi and Mr Ali Jameel, CEO, TPL Corp Limited, signed a Memorandum of Understanding (MOU) of a strategic partnership to promote synergic partnership between the two organizations. This strategic partnership will create a platform for strengthening the capability of organizations to provide a comprehensive range …

Web Desk — Auto industry players anticipate a 30 percent sales drop in 2022-23 in view of uncertainty after the increase in withholding tax on filers and non-filers, imposition of one percent capital value tax on vehicles exceeding 1,300cc, strict auto financing rules to compress demand, high-interest rates, and more price shocks on the cards. Dawn quoted market sources as …

Web Desk — Chief Executive Officer (CEO), Engineering Development Board (EBD) Almas Hyder on Saturday disclosed that for the first time a record number of over 50 million smart and feature mobile phones were assembled in Pakistan in one year. Talking to media in Lahore, he said during the period under review, 22 million smart mobile phones were assembled of …

Web Desk — In order to meet the tough economic challenges ahead, Pakistan would borrow around Rs5.5 trillion from international lenders in the current fiscal year. With this amount, Pakistan will maintain its foreign exchange reserves, repay previous loans, and finance of current account deficit. However, in the annual budget 2022-23, the government had projected to borrow only Rs3.17 trillion …