July 3, 2026
The Karachi Stock Exchange's KSE-100 index closed fiscal year 2025-26 with a 44 percent gain — beating gold, real estate, T-bills, and the dollar as an investment for the third consecutive year — driven by falling interest rates, strong corporate earnings, and the completion of successive IMF programme reviews.
Illegal Hawala and Hundi channels are used to send foreign exchange for used vehicles, which is not the case with the local industry that uses the legal route to import auto parts. PHOTO: FILE Islamabad: Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan, assured the auto industry that the government is fully aware of its concerns regarding the import of used vehicles. He said that as per Prime Minister Shehbaz Sharif’s directives, new legislation and regulatory frameworks will be introduced to comprehensively address these issues. “Only those used vehicles that meet safety and environmental standards
Listen to the article The international event Auto Vancouver has removed Tesla from this year’s event, reporting concerns about participants and exhibitors. The decision comes amid a wave of protests targeting the US -based electric vehicle manufacturer, mainly due to CEO Elon Musk’s narrow ties with US President Donald Trump and ongoing commercial tensions between the United States and Canada. Decision based on security concerns The BC car representatives Association, which is taking advantage of the event, said Tesla had received multiple opportunities to voluntarily retire before it was officially informed of it at 1pm. PT on Tuesday. Eric Nicholl,
Listen to the article Saif Ali Khan met Bhajan Singh Rana, the auto driver who rushed him to Lilavati Hospital in Mumbai after he was attacked during an attempted robbery at his Bandra home earlier this month. The meeting took place on Tuesday, shortly before the actor was discharged from the hospital. Pictures from the meeting, widely shared on social media, show the two men posing together at the hospital. In one picture, Saif is seen sitting on a bed with his arm around Rana, while in another, the couple stands together, smiling for the camera. Saif, who had suffered
U.S. auto industry executives are bracing for a possible rollback of electric vehicle mandates under the incoming Trump administration. — AFP/File NEW YORK: US auto giants said Wednesday they could further slow growth in electric vehicle production as Detroit awaits the arrival of a Trump administration willing to roll back key Biden climate initiatives. Donald Trump’s transition officials have discussed eliminating the $7,500 tax credit for electric vehicles, according to US media. The EV tax credit was included in President Joe Biden’s flagship climate change law, the Inflation Reduction Act of 2022. Trump, who has called climate change a farce,
July 13, 2024
BALTIMORE: United Auto Workers President Shawn Fain on Friday criticized Donald Trump’s U.S. presidential bid and praised President Joe Biden without ever using his name or repeating the union’s January endorsement of him for re-election this fall. “It’s clear that Donald Trump in the White House would be a total disaster for the working class,” Fein said at the Netroots Nation conference in Baltimore. Fein criticized Trump by name several times during his 16-minute speech that focused on the working class. Fein then praised Biden without naming the president whose erratic performance in a debate last month prompted some fellow
KARACHI: According to a report released by Topline Research on Wednesday, car sales in Pakistan, as reported by the Pakistan Automobile Manufacturers Association (PAMA), hit an 18-month high in June 2024, recording sales of 13,300 units. This marks a 21% month-on-month (MoM) increase and a 120% year-on-year (YoY) increase. The increase in MoM car sales was mainly driven by Indus Motors Company Limited (INDU), which grew 44% to 2,957 units, and Pak Suzuki Motor Company (PSMC), which registered 15% growth to 6,885 units. Hyundai Nishat Motor posted sales of 1,059 units, up 55% MoM, while Sazgar Engineering ( SAZEW )
KARACHI: Auto industry analysts described the 2024-2025 federal budget as bogus and called for a sustainable 24-year policy for all industries, including the auto sector. They stressed that the government should involve the cabinet, political parties and industrialists to formulate this long-term strategy without delay. Sustainability is critical to the industry’s growth, but local policies change frequently, often on the heels of a news release, forcing business leaders to constantly adjust their decisions. This instability makes doing business and investing in the country very risky. The auto industry, in particular, has faced challenges for the past two and a half
Islamabad: The auto industry has sought government protection by strengthening restrictions on the import of used cars in the upcoming budget for the financial year 2024-25. Background discussions with the auto industry revealed that in the first eight months (July-February) of 2023-24, the import of used cars caused a loss of over Rs 45 billion to the local industry, the economy and, most importantly, seriously endangered the livelihoods of millions of people. The government initially allowed the import of used cars by overseas Pakistanis, but the facility is being exploited through corrupt practices. Vehicles are imported in the name of
KARACHI: Car prices are expected to stabilize and a cut in interest rates after the 2024 general election is expected to boost sales, according to forecasts from parts sellers and car dealers. “There is no hope of a reduction in car prices as inflation has reached around 30% this time, while the exchange rate has reached Rs 280 and is now stable. First, I hope car prices don’t go up in 2024, as the current account is already balanced and things are better macro-wise. Second, interest rates are expected to fall by 5% to 6% in the coming months. Falling
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October 11, 2026
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