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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 the largest export sector in the world. It is 54 percent of the global trade which is equivalent to n...

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 minister said Pakistan was one of the countries taking lead in the introduction and implementation o...

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 process of seeking necessary regulatory approvals to carry on the business and in this endeavor, it has...

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 Limited (MCML) during the company’s first vendor conference. The conference that was held at the co...