The Minister of Science and Technology Plans

The Minister of Science and Technology plans to introduce eco-friendly motorcycles and rickshaws that will be powered by rechargeable batteries in the country. Minister of Science and Technology Fahad Chaudhry rode battery-powered motorcycles and rickshaws during a visit to the Pakistan Council on Renewable Energy and Technology on Saturday. According to the minister, electronic vehicles will help save energy and protect the environment.

Chaudhry said that battery-powered vehicles

The future of transportation, will revolutionize transportation in Pakistan, one of the largest users of motorcycles and rickshaws. He shifted transportation to electronic technology in line with government goals, ultimately reducing our dependence on oil. The use of electronic vehicles can reduce carbon emissions in the environment," the minister said. Chaudhry also announced that it has launched a bottled water brand produced by his government department. According to the minister, bottled bottled water called safe drinking water will be a cheaper alternative than other mineral water brands on the market.

In early July, the Pakistan Water Resources Research Council (PCRWR) told the Parliamentary Committee that all bottled water companies operating in Pakistan are selling “artificial” water instead of natural water. PCRWR, a major research organization under the Ministry of Science and Technology, said other countries did not allow bottled water companies to sell "artificial" water to people.

With the introduction of cheaper and safer drinking water experiments, Chaudhry anticipated that his ministry would soon launch a project to solve the drinking water problem. He said the introduction of cheaper bottled water is in line with the government's tightening.

In the final fiscal year ended

The truck assembler has just been harmed to discover that the next year may still be worse. In the final fiscal year ended June 30, 2019, truck sales fell by less than half from the previous year. However, starting in July, the trend seems to be intensifying. There are five major truck assemblers in Pakistan, but two of Hinopak Motors Ltd (HML) and Ghandhara Industries Ltd (GIL) dominate the market. Among them, they accounted for 80% of total truck sales last year. At least one of them is currently talking about reducing production and delaying expansion plans. 

We are making every effort to survive this effort,” says Naushad Riaz, vice president of production and business operations at HML. We took a temporary step to temporarily withhold expansion projects that included 300 million rupees last year to increase production capacity and optimize available resources. Two years ago, Pakistan's total truck sales were 9,331, which fell to 5,828 units in FY19.

Most of the reduction was absorbed by HML, which sold 1,808 trucks of the FY19, compared to 3,874 of the FY18. This is a decrease of over 50pc in one year. The new fiscal year did not improve. Last July, HML sold 213 trucks, but this July it sold 101. Some of this is explained by shrinking market and business activities due to shrinking construction and development projects.

But as GIL's Isuzu brand has increased its market share over the past few years, it is itself in a significant sense, as new competitors have emerged in the market. Isuzu sales also dropped sharply between FY18 and FY19, down 26pc from 3,878 to 2,801. This is not as steep a drop as other assemblers have seen in the same period but nevertheless. In the current fiscal year, this trend may be bottoming out. In July 2018, GIL sold 261 trucks and 252 trucks this July.

Increasing demand for trucks

Truck sales are often considered a barometer of economic activity. Unlike cars, which are in demand in homes and individuals, trucks are bought almost entirely by businesses. Increasing demand for trucks can be interpreted to mean economic vitality, showing the ability and willingness of the transport capacity of the enterprise, as well as the supply and availability of goods and materials in the economy in need of transportation. Commercial vehicle sales began in FY14 and continued to boom for the next five years.

During FY18, the volume increased by 3.5 times, exceeding 10,000 units. But monthly sales have been dropping sharply since July 2018, Naushad said. The first shock to his boom in sales was the sudden introduction of piler and non-parier states. According to a fair estimate, Beeparer made up 40pc of total sales.

At the time, the industry tried to escape from these effects, but the appearance of the rupee depreciation against the US dollar was hit again, adversely affecting the overall economic and assembler input costs. GIL's Isuzu brand has overcome sales declines over its competitors, but the future is still uncertain.

We see the FY20 as a hard year, and we hope to provide better business opportunities for the automotive sector after the consolidation phase next year,” says an official at the company who doesn't want to name it.

He said

Truck prices have risen as rupee dollar parity, rising supplier costs, import sales taxes and increased tariffs have resulted in a complete collapse of the kit and weak economic activity. He said almost all companies cut production due to sluggish demand. “We have never fired any workers or employees. Therefore, the brutality of cost savings is borne by the daily wage labor used by the assembler. These are workers without contractual protection, which happens when the cost saving and production suppression ax first comes into contact.

1,500 rupees higher than Tuesday

On Friday, domestic gold prices were 1,750 rupees, 1,500 rupees higher than Tuesday, 86,250 rupees per tola and 73,945 rupees per 10 grams. The ASSJA (Sindh Saraf Jewelers Association) found global gold prices rising $ 32 per ounce on Tuesday, at $ 1,495 an ounce. Haji Haroon Rashid Chand, Chairman of ASSJA, said jewelry sales have declined because many consumers have lost their purchasing power. Besides, nowadays people are more interested in buying sacrificial animals than gold.

As the price of gold rises, some are likely to sell old jewelry or bullions to buy expensive animals," he said. Local gold prices soared to Rs18,450 per toll and Rs15,817 per 10 grams from January 1 to the present, while international rates rose $ 212 per ounce over the same period. The yellow metal price for January 1 is Rs67,800 per tola, Rs58,128 per 10 grams, and the international rate is $ 1,283 per ounce.

Mohammad Arshad, president of the Pakistan Governors Association, said that many consumers cannot afford to make jewelry sets for marriage due to the constant rise in yellow metal prices. In such situations, they include buying a low weight set or remodeling old jewelry.

He said 10-15% of the public sells old jewelery or gold bars to buy sacrificial animals, while most people involved in the trading of gold bars follow this practice. According to Arshad, some people sell gold to liquidate the annual Zakat.
Previous Post
Next Post