Pakistan Economy Thread

timepass

Brigadier
Please, Log in or Register to view URLs content!


1699304-TAPIpipeline-1525147418-346-640x480.JPG



ISLAMABAD: Countries that are part of the $10-billion Turkmenistan-Afghanistan-Pakistan-India (Tapi) gas pipeline project have approved an acceleration plan in a bid to cut the time required for constructing the pipeline and make it ready before the deadline, disclosed an official.

Please, Log in or Register to view URLs content!
 

timepass

Brigadier
Launch of KIA Rio 2018 could threaten car industry’s ‘big three’

35147122_1528710167256676_5194017668901896192_n.jpg


LAHORE: The KIA Rio 2018 has reportedly been displayed at the showroom of KIA lucky motors Pakistan, causing speculation in car enthusiasts about pricing and the possible exclusion of features from the car when it officially hits the market.

As of now, the KIA Rio 2018 has been estimated at a price of around Rs 1.4 million for a 1.0l variant, while the one on display at KIA lucky motors right now is a 1.4l variant assembled in Korea. The cars projected price indicates that it could possibly be serious competition for Suzuki, Honda and Toyota.

The manufacturing of the car in Pakistan is expected to take place somewhere in the next year, but prospective consumers are worried that the car assembled in Pakistan will have fewer features than the one currently on display and that the price will be considerably jacked up.

Kia unveiled the 4th Generation of Kia Rio at Paris Motor Show 2016. The 4th Generation Kia Rio is a front engine front wheel/ four wheel drive subcompact hatchback. Kia Rio 2018 featured an updated and sportier design language as well as larger exterior dimensions compared to the previous 3rd generation Kia Rios, making for a more spacious interior. The Kia Rio is available in 3 variants S, EX and LS. Kia is planning to bring the 1.0 engine option in Pakistan.

Globally, the car has done wonders, with 437,000 units sold in 2015, making the Kia Rio one of the most successful models for Kia.

If it is indeed priced within the Rs 1.5 million mark as is being hoped and expected, then the car could give some serious competition to ‘the big three’ companies operating in Pakistan – Suzuki, Toyota and Honda. The car, as it is currently being assembled in other parts of the world, includes important features such as Bi-projection headlamps, which offer increased illumination, electric folding mirrors, KIA’s iconic radiator grille in which most of the airflow used for cooling enters through the lower intake, aero blade wipers, Parking Distance Warning-Reverse, Antilock Braking System, as well as 6 airbags, and a Supervision cluster with 3.5˝ LCD screen.

The car also includes certain luxury features such as Auto cruise control, auxiliary and USB connections, manual A/C, full Auto Temperature Control (FATC), full-folding 2nd row seats, sunroof, telescopic & tilt steering, ECM rear-view mirror, front & rear door bottle holders, and center console armrests, as well as rear seat USB charging ports.

While at this price the KIA Rio was already expected to give a tough time to cars such as the Suzuki Swift, the rebranded Cultus, and Suzuki’s recently launched sedan, the Ciaz, with the current set of features it could also give the Toyota and Honda flagship cars, Corolla and City, a run for their money. It is even more of a threat given that its design of the KIA Rio gives more of a Sedan like impression than that of a compact car.

Another market that this car could affect is imported Japanese cars. The features that often prompt consumers to buy refurbished cars such are already present in the KIA Rio, and the fact that the cars will be brand new might be enough for the KIA Rio to soon dominate the roads.

However, fears among consumers remain rife that the ‘big three’ will not allow the car to enter the market at such a price. Others have indicated that if the car does indeed sell at this price, then a lot of the features will be taken out when manufactured in Pakistan bringing the car back to the same category as the ones already available.

At present, the KIA lucky motors website claims that the car will have PDW-R, ABS and 6 air-bags, however, it has also run a fine print disclaimer saying “Actual Specifications may vary according to the region.”
 

timepass

Brigadier
Please, Log in or Register to view URLs content!


1732381-containersx-1528689577-868-640x480.jpg


KARACHI:
Exports from Pakistan have gone up in the current fiscal year. According to data retrieved from the State Bank of Pakistan (SBP), the growth in exports has been positive for all months since May 2017. Average growth has been more than 11%.


Please, Log in or Register to view URLs content!
 

timepass

Brigadier
Renault acquired land for their plant in Pakistan...

35146435_2063523600582830_1854283122808455168_n.jpg


Al Futaim - Renault Pakistan has announced that they have acquired industrial plot for production of Renault vehicles in Pakistan.

This plant will be established in the M3 Industrial City in Faisalabad's special economic zone.

Colin Cordri, senior managing director of Al Futaim Automotive International, said Al Futaim is committed to the Pakistani market and its project.

He said that this project will play an important role in bringing foreign direct investment to Pakistan.

Project design and pre-engineering work continues, while work on the site will be started soon.

The construction on the project will start by the end of 2018.

On completion of the work, about 50,000 cars will be generated per year from the assembly plant.

Al Futaim and Renault hope the production will start in 2020.

Yarn Alvi, chief executive officer of the Al Futaim - Renault Pakistan project, said that 'Renault is famous for the quality and safety of its vehicles & we provide modern European technology to its Pakistani Customers.
 

timepass

Brigadier
Coal reserves in the Thar can produce hundred thousand megawatts of electricity for next 200 years.

35147443_2063521073916416_7560604980403503104_n.jpg


Shamsuddin Shaikh, Chief Executive of Sindh Engro Coal Mining Company (SECMC), said that the company will complete the project started in three phases to generate affordable electricity from coal.

In the first phase of the project, the installation of two power plants, which has 330 megawatt production capacity of coal-generated electricity generation, is underway.

In the second phase of the project, coal mine production will be extended to 7.6 million tonnes per annum and two more power plants will be generated by 330 megawatt power plants.

Similarly, coal production from will be increased to 33 million tonnes in the third phase of the project, which will increase the power generation capacity from the coal to increase the total production of electricity to 3960 megawatt.
 

timepass

Brigadier
Launching of Electric Cars in
Please, Log in or Register to view URLs content!
- This Year.....


35265492_2063919923876531_264092196091723776_n.jpg


The world – slowly but steadily – is moving towards a sustainable future and this means that the automobile shift will be towards emission-free cars. The global market for electric cars will reach 35% in the coming two decades.

Anticipating a huge demand in the humble Pakistani market as well, Rahmat Group is bringing electric cars to Pakistan.

The Group has signed as much as 14 technical collaboration agreements and Memorandum of Understanding (MoU) with different Chinese companies in the recent months. This includes agreements with:

Electric Power Technology Co,
Jiangzi Technical Vehicles Manufacturing Co Ltd,
Jiangsu Fuan Technologies,
Louyang Xinguang Lithium Science and Technology Co Ltd,
Zhehang Shangi Tianying Vehicle Industries,
Yangzhou Daojue New Energy Development Co Ltd,
Haohong Motors,
Weifang Shandong Electric Power Technology Co Ltd,
Shanghai Shenlong Bus Co Ltd,
Wuxi Shengbao Electric Vehicle Co Ltd, and
Base Ningbo Foreign Trade Co Ltd.
The agreements include the establishment of Electrical Complex at
Please, Log in or Register to view URLs content!
.

The Electrical Complex
According to Shaukat Qureshi – Chief Operating Officer of Rahmat Group – the Group has already acquired 25 acres of land for the complex. The complex will begin with manufacturing electric/battery powered buses. The company will then enter the two-wheeler electric market as well once it progresses.

As per the reports, Rahmat Group will partner with two Chinese manufacturers to turn its plans into a reality. The COO added:

All arrangements have been firmed up with the partners concerning plants, machinery, and equipment. immediate production would be under SKD followed by CKD as per the localisation program of Auto Policy 2016-2021. However for introduction, immediate imports of the desired units would be conducted within the 3-4 months.

The company also plans to develop lithium batteries for buses, cars and two-wheelers.

The group expects to come up with a model within first 4-6 months after its business initiation. The Rahmat Group has signed two agreements with two different Chinese companies. One company will handle the electric car production while the other will assemble electric vans, trucks etc.

The government recently reduced taxes on electric vehicles and Rahmat Group plans to take the lead in making the most of it.
 

timepass

Brigadier
Please, Log in or Register to view URLs content!
..

1734581-image-1528912693-371-640x480.jpg


ISLAMABAD: Six months after its approval, Pakistan and the World Bank on Wednesday signed a $425-million loan agreement for bringing improvement in the country’s dilapidated electricity transmission network.

Please, Log in or Register to view URLs content!
 
Top