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Significant rise in plastic prices affects auto parts makers
Business
March 16, 2021
KARACHI: Prices of plastic granule increased more than 50 percent during three months, jacking up cost of auto parts production and eroding margins of mainly small and medium vending companies, industry officials said.
Mashood Khan, former chairman of Pakistan Association of Automotive Parts and Accessories Manufacturers told The News that plastic granule is their major raw material, whose prices during last three months increased by more than 50 percent.
It comes with various rates, he said. A kilogram is available for Rs2,500, Rs3,000 to higher prices depending on its various categories. Due to an increase in the prices, the spare parts industry is suffering, as their orders are declining at higher rates and affordability becomes the issue.
Over 50% increase in price of plastic affecting auto parts makers: report
By
Tuesday Mar 16, 2021
Former chairman of PAAPAM says that price of plastic granule has increased by over 50% price in the last three months.
Mashood Khan says post coronavirus lockdown, the situation was yet to turn normal as the price of the major raw material is increasing.
Khan says part manufacturers yet to benefit from arrival of new big players in country.
KARACHI: An over 50% increase in the prices of plastic granule in the last three months has led to an increase in the cost of auto parts production causing a significant decrease in the profits of the small and medium vending companies, industry officials told
news
Trade deficit can be restrained via ‘import deletion’ under PPP DNA
The Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) has asked the government to give the export industry status to the local vending industry, which is fully capable of bridging the huge gap of ever-rising trade deficit not only through enhancing exports but also controlling unbridled imports through ‘import deletion’ of industrial replacement parts.
In a letter, written to the Federal Minister for Industries and Production Hammad Azhar, the association has asked the government that there is a huge possibility of ‘import deletion’ of industrial replacement parts, in addition to the automotive parts, through public-private partnership (PPP). “Through ‘import deletion’ we can minimize our dependence on imported goods by using reverse engineering technology in Pakistan under public-private partnership in line with the Chinese model, preventing t
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