Page 15 - Engineering Development Board News Today

ISLAMABAD: The government is considering different proposals to slash down Additional Customs Duty and Regulatory Duty on different brands of cars and other vehicles under the upcoming Auto...

Mobile, auto exports seen fetching billions of dollars August 3, 2021 ISLAMABAD: The upcoming mobile phone manufacturing plants and expansion in the auto sector could fetch Pakistan billions of dollars in exports over the medium term. It was stated by Chairman Board of Management of Engineering Development Board (EDB) and businessman Almas Hyder during a meeting with Prime Minister Imran Khan on Monday. The meeting was held to discuss ways to diversify exports. “Engineering goods trade is t...

Vehicles being charged at the EV charging stations. — White Star ISLAMABAD: Federal Minister for Information and Broadcasting Fawad Chaudhry has said that the Federal Board of Revenue should reduce sales tax on the import of Electric Vehicles (EVs) to 5 per cent to encourage the upcoming technology based on the cleanest fuel in Pakistan. Mr Chaudhry had been one of the key supporters of EVs in the country when he was the minister of science and technology. Talking to Dawn, the information ...

The production facility is anticipated to be completed by the end of December this year. — Reuters/File KARACHI: Lucky Motor Corporation (LMC) has signed an agreement with Samsung Gulf Electronics Co, FZE for producing Samsung mobile devices in Pakistan. In a stock filing on Friday, Lucky Cement Ltd (LCL) has said that its subsidiary LMC, which is currently engaged in business of manufacturing, assembly, marketing, distribution and sales of Kia and Peugeot vehicles, has also initiated the pro...

Auto market seen doubling in next 5 years July 8, 2021 KARACHI: Pakistan’s auto market demand is likely to double from 300,000 units to 650,000 units in five years as a result of rapid digital transformations in the country’s economy coupled with a growing young population, a Chinese automaker said on Wednesday. “The recent population trend shows around 10 million young males are expected to become independent earners in just half a decade,” said an official of Master Changan Motors L...

KARACHI: South Korean tech giant Samsung has been in talks with three investors for setting up a mobile manufacturing unit in Pakistan. Sources said out of three parties, one has a franchise from Korea which has already set up vehicle assembling plants in Pakistan under Auto Development Policy (ADP) 2016-21, while other two are different parties. They said so far no agreement has been signed as Samsung, after short listing various companies, is in the process of finalising its plan to award the...

Aiming for exports July 7, 2021 LAHORE: Pakistan’s auto industry is now looking at the government to come up with a new auto policy, as the previous long-term document that had been in effect since 2016 has expired. Auto policy 2016-21 gave consumers greater choice as new players challenged existing car assemblers. The new policy should be announced after analysing the impact of the expired policy. A look at the 2016-21 policy shows that it was only partially successful as new entrants made...

Senate panel seeks lower car prices Calls EDB for briefing on pricing structure, quality and safety If the pharmaceutical sector does not reduce prices of medicines, then the government should withdraw the relief, said Sena-tor Talha Mehmood, chairman of the standing committee. PHOTO: FILE ISLAMABAD: A Senate panel on Thursday linked reduction in duties for up to 850cc cars with drop in vehicles prices, as the government has proposed lowering taxes for two years to encourage the middle class t...

Continuing discussion on the Finance Bill 2021 for the third-day, committee members rejected the proposal of withholding tax on non-filers’ electricity bills exceeding Rs25,000 per month. — APP/File ISLAMABAD: The Senate Standing Committee on Finance on Thursday rejected the government proposals to tax markup on Provident Fund (PF), lowering of benchmark for charging withholding tax on electricity bills and declaration of business account. The committee, led by its chairman Senator Talha Me...

EDB official briefs NA panel on new entries in auto sector