Pakistan Economy Thread

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Kia Sportage 2.4l and 2.0l the grey is 2.4l and white one is 2.0l both are launching next month in Pakistan

source: Karachi track....

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#204timepass, A moment ago

 

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During 2016-17, Pakistan’s IT exports were $3.3 billion, which have jumped to $5 billion and are expected to grow to $6 billion next year!

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DFSK gonna launch SUV in Pakistan Glory S80 in a month period time....

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Tractor Production Grew By 50.23% In Seven Months Of Current FY..

Tractors manufacturing in the country witnessed 50.23 percent growth during first seven months of the current financial year as compared the production of the corresponding period of last year.

During the period from July-January, 2017-18, about 39,033 tractors were manufactured locally as compared the manufacturing of 25,983 tractors of the same period of last year, according to the Quantum Index Numbers of Large Scale Manufacturing (LSM) industries released of Pakistan Bureau of Statistics.

According to the data, the overall output of LSMI increased by 6.33 percent for July-January, 2017-18 as compared to same period of last year.The LSMI output increased by 9.44 percent for January 2018 compared to January 2017 and 13.58 % if compared to December 2017.

During the month of January, domestic production of tractors was recorded 6,419 as compared the production of 4,647 tractors of the corresponding month of last year, it added.

Meanwhile, local trucks production during the period under review grew by 22. 62 percent as about 5,378 trucks were assembled in first seven months of the current financial year as compared the assembling of 4,386 trucks of the same period last year.

Local production of trucks was recorded at 854 in the month of January 2018, which stood at 580 trucks in the corresponding month of last year, the data revealed.

During last seven months of the current financial year, local production of jeeps and cars grew by 25.75 percent respectively as about 135,159 jeeps and cars were locally assembled as compared the manufacturing of 108,280 cars and jeeps of the same period of last year, it added.

According to the data, about 1,450,129 motorcycles produced in last seven months of the current financial year as compared the production of 1,423,893 motorcycles of the same period last year.

On month on month basis, 253,076 motorcycles were assembled during January 2018 as compared the production of 234,085 motorcycles of the same period last year, the data revealed.

 

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During the current fiscal year 2017-18, national exports increased by 12.2 percent.

According to the State Bank of Pakistan (SBP) report, during the first eight months of the fiscal year, July to February 2017-18, the national exports volume rose to $ 15.97 billion.

During the corresponding period of the last fiscal, the national exports volume was recorded $ 14.23 billion. Thus, in the current fiscal year, domestic exports increased more than 12%.

According to the SBP, in the first eight months of the current financial year, compared to last financial year, inflation rate sent by Non-resident Pakistanis also increased by 3.5 percent.

And during the period of July to February 2017-18, NON-resident Pakistanis have disbursed $ 12.84 billion, during the corresponding period of the previous fiscal year, $12.41 billion was disbursed.

According to the report, 36 per cent of the import bill of Pakistan is paid with remittance and the main importance of reducing the trade deficit is to be made.

 

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Alibaba has launched a Pakistan pavilion on its B2B portal to showcase Pak’s indigenous products.

It has 3k+ paid & 250k+ general members from Pakistan, categories related to textile, surgical instruments, and sports goods feature in the top-selling list at its pakistani portal.

 

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JW Forland Receives Unexpected Response from Pakistani Auto Consumers....A new entrant in the commercial vehicle sector, JW Forland is set to officially launch in Pakistan soon.

Pakistan’s auto-sector is finally moving forward. The Auto Policy 2016-21 and CPEC projects are pushing investors and vehicle companies towards launching new products in the Pakistani market.

Among these companies is JW Forland, which is slowly making its entry to Pakistan and trying to secure a share in the commercial vehicle segment. The company specializes in commercial vehicles at relatively cheaper prices. The company currently does most of its marketing through its social media accounts.

JW Forland is gaining popularity and has reported decent sales. A competitor to Shehzore and Suzuki Mega Carry – two popular vehicles in the commercial sector – the company launched their Bravo 1 truck which has a loading capacity of a ton. The reason it’s expected to be a great rival is due to its powerful 1800cc diesel engine paired with modern technology. The best part is that it costs only Rs. 850,000, which is very affordable even when compared with a small Suzuki Ravi – which comes with minimal features and costs around Rs. 750,000.

Coming May 2018

JW Forland confirmed their entry into Pakistan and will start manufacturing and assembling their vehicles locally starting May 2018.

The company has already sold out its initial introductory units. The company has sold 50 initial import units of the Bravo 1 and has sold out Bravo 3 and Bravo 7.5 units. This is very favorable for the company, the fact that their initial units were sold promptly is a great indicator that they will have a significant market presence in the near future.

 

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Nissan to set up car assembly plant in Pakistan....

Nissan Motor Co., Ltd. is entering the Pakistan market through a manufacturing and licensing agreement with automotive partner Ghandhara Nissan Ltd. for local production of Datsun models.

The agreement also covers distribution, providing access to a market where demand for new vehicles has grown to more than 200,000 units a year.

The move is part of Nissan’s strategy to engage with emerging automotive markets around the world, bringing brands and products tailored to meet rising consumer demand. Sales of the first locally built vehicles are expected to begin in Pakistan within the 2019 fiscal year.

“This entrance to the Pakistan automotive market represents a significant step in the ongoing development of local manufacturing infrastructure and economic activity,” said Peyman Kargar, Nissan senior vice president. “We are confident that, with the close collaboration and support of the Pakistani government, this will deliver sustainable benefits for the national economy, customers, partners and Nissan.”

“Together with Ghandhara, we’ll be working actively with suppliers to localize and exchange technology and skills, which will provide a lasting benefit to the emerging local component industry,” Kargar added.

Nissan’s entry will provide Pakistani customers with a fresh and desirable lineup designed and built with the most modern Japanese engineering.

It will also provide a significant boost to the automotive industry, which already accounts for about 4% of Pakistan’s gross domestic product. Ghandhara will invest 4.5 billion Pakistani rupees (about $41 million) over the first four years. The project and the development of a retail network will create more than 1,800 jobs.

Nissan and Ghandhara will work together to develop Ghandhara’s facilities in Karachi’s Port Qasim in to a world-class manufacturing plant. The partners have a long-standing relationship, bringing a wealth of local knowledge and experience. The project has qualified for brown-field category status under the Government of Pakistan’s Automotive Development Policy.

“This agreement will introduce world-class facilities and the best of Japanese engineering technologies,” said Ahmed Kuli Khan Khattak, CEO of Ghandhara. “By localizing the manufacture of parts and components and boosting development in the auto supplier industry, it will provide Pakistan with technical assistance and promote partnerships with Japan.

“Customers in Pakistan will benefit from more choice and enjoy engaging driving experiences with vehicles and modern features that are ideally suited to the country.”

 

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VPL appointed UD Trucks Importer in

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UD Trucks Corporation has appointed VPL Limited as its authorized importer in Pakistan for the new Quester heavy-duty trucks to be introduced in the country.

Lahore: UD Trucks is a leading Japanese total transport solution provider. UD Trucks was established in Japan in 1935, and became a part of the Volvo Group in 2007. UD Trucks has a long and proud history in Pakistan. UD Trucks (previously known as Nissan Diesel) was the first Japanese truck brand to enter the Pakistan market, and has since then continued to be one of the leading players in the country. UD Trucks are a familiar sight on the roads of Pakistan and hold a prominent position in the long-haulage and construction segments.

UD Trucks Corporation is now planning to introduce their popular new heavy-duty truck model Quester in the Pakistan market for which they have appointed VPL Limited (VPL) as their authorized importer.

VPL is a leading importer of trucks, buses, construction & mining equipment, generators and tools in Pakistan with a country wide after-sales support network. VPL is also the authorized importer of Volvo Trucks, Volvo Buses, Volvo Construction Equipment and Volvo Penta. VPL is part of the Panasian Group, which has been responsible for the Volvo business in Pakistan since the mid-1970s.

The UD Quester heavy-duty truck will be launched in the country soon. The plan is to enhance the experience and support for UD Trucks customers in Pakistan in both the sales and after sales dimensions.

 

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Awarded Greenfield Status to Assemble & Manufacture Vehicles in

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© CarSpiritPK

News regarding Sazgar, the makers of 4-stroke CNG auto rickshaws has been around for quite some time now. Earlier in January, the company secretary Arshad Mahmood, in the notification to the Pakistan Stock Exchange (PSX) said:

“Considering the potential growth and future prospects of the automobile sector in the country and in order to facilitate timely completion of the project; the board has decided to hold the expansion of auto rickshaws production facilities as communicated earlier. The project will be completed by June 30, 2019 while the plant would have a production capacity of 24,000 units per annum.”

Now on 28th March, Sazgar has officially declared that the Ministry of Industries and Production of Pakistan has awarded them the “Category A- Greenfield Investment Status”, under the Auto Policy 2016-21, to assemble and manufacture passenger & off-road vehicles in the country.

Till now, the name of their Chinese partner was kept under covers, however according to their letter sent to PSX, the vehicles will be sold under the brand name “BAIC”.

BAIC (Beijing Automotive Industry Holding Co., Ltd.) is a Chinese state-owned enterprise and holding company of several automobile and machine manufacturers located in Beijing, China. Its principal subsidiaries include the passenger car maker BAIC Motor; a military vehicle and SUV maker, BAW; and a truck, bus, and agricultural equipment maker, Foton Motor. BAIC also makes Hyundai and Mercedes-branded cars for sale on the Chinese market through the Beijing Hyundai and Beijing Benz joint ventures.

BAIC is often ranked as the fifth or fourth-largest Chinese automaker by volume and boasts several successful passenger-car joint ventures with foreign firms. However, a significant proportion of its output is agricultural, commercial, and military vehicles. It is yet to be known what vehicles the company is planning to introduce in Pakistan.

Sazgar’s main manufacturing facility is located on Raiwind Road in Lahore spread over an estate of 5 Acres. An additional 27 Acres has also been purchased by Sazgar at Raiwind Manga Road in Lahore to meet the future expansion needs.