BMW to introduce cheaper car models in Pakistan

In a recent development, Renault announced to establish a plant to assemble cars in 2018 in Pakistan. Apparently, the new auto policy is finally showing progress in the country. In order to expand its business in Pakistan, BMW is introducing new lower end and mid-range models. As a proof, it has already launched its second generation BMW X1. Managing Director of BMW Middle East Group, Johannes Seibert stated that BMW

Suzuki Mehran to be replaced by 660cc Alto by 2018

Pak Suzuki is intending to discontinue 800cc Suzuki Mehran by 2018, as reported by Dawn. Subsequently, they are planning to replace it with locally manufactured 660cc Suzuki Alto. The move is expected to take place regardless of local vendors making a fuss about the decision. There is no doubt that domestic dealers will oppose this move and the primary reason of conflicting interest would be enormous sales of Suzuki Mehran

SBP starts receiving 10 rupee coin; will introduce it in couple of weeks

According to the spokesperson of State Bank of Pakistan (SBP), the SBP has started to receive 10 rupee coin from Pakistan Mint from Monday. However, the federal government is expected to introduce the 10 rupee coin in a couple of weeks. While talking to Express Tribune, the spokesperson of SBP stated: “The SBP started receiving Rs10 coins from Pakistan Mint — the nation’s oldest mint located in Lahore’s Shalimar Town

China’s Foton Motor intends to expand their business in Pakistan

Foton Motor Company, business transport producers of China is planning to invest in Pakistan. As a result, a group of Foton Motors met the Finance Minister of Pakistan Ishaq Dar last week. The company exhibited interest to utilize their resources into the neighborhood automobile industry to expand their business. The government had made some adjustments in the auto policy for the next 5 years which was highly appreciated by the

Indus Motor Company officially launches Toyota Hilux Revo in Pakistan

After months of rumors and speculations, Indus Motor Company (IMC) has finally and officially launched Toyota Hilux Revo in Pakistan. The company arranged an event in Karachi to mark the introduction of IMC (3S) dealership in the Pakistani market. Moreover, the officials also celebrated the launch of Toyota Hilux Revo. The officials of IMC and Toyota were present at the time of launching much anticipated vehicle. According to the sources

China has invested $14 billion in CPEC projects so far

Under the China-Pakistan Economic Corridor (CPEC), China has so far financed $14 billion in 30 early harvest projects. These projects will be completed under CPEC which is a flagship project of the “One Belt One Road” initiative. It was launched by Chinese President Xi Jinping. Chinese Embassy Deputy Chief of Mission, Zhao Lijian was quoted as saying: “Out of the 30 projects, 16 were under construction” Additionally, he stated that

Deadline to exchange old currency notes is 30th November 2016

It generally takes time to get rid of the old bank notes especially in our part of the world. Although the brand new ones are produced less often, the old ones stay with us for a long time before they expire. However, State Bank of Pakistan (SBP) has declared that an individual can exchange old currency notes with new ones by 30th November 2016. Replace the old currency notes out

FBR announces fair market values for DHA and other societies of Lahore

The Federal Board of Revenue (FBR) on Tuesday announced property prices for 16 major cities of Pakistan including Lahore. However, they have recently published fair market values for DHA Lahore and various other societies in the city. In the case of residential plot, the fair market price is 30 to 35% more than the previous DC value. As far as prices of commercial plots are concerned, the market price is

85 billion rupees invested in Dubai realty market by Pakistanis in last 6 months

Pakistanis have invested around 3 billion dirhams (PKR 85 billion) in Dubai realty market in last 6 months. According to the report based on Dubai land department that appeared in UAE media, Pakistanis are just behind Indians and Britons. India has invested a whopping amount of 7 billion dirhams while Britons made an investment of colossal 4 billion dirhams. On the other hand, Pakistan is No. 3 on the list

FBR sets new property prices for 16 cities

The Federal Board of Revenue (FBR) on Tuesday set new property prices for 16 major cities of Pakistan. The move will provide a new base for the collection of withholding and capital gains tax. The rates have been notified with effect from 31st July 2016. FBR notified rates for Abbottabad, Faisalabad, Gujranwala, Gwadar, Hyderabad, Islamabad, Karachi, Lahore, Mardan, Multan, Peshawar, Quetta, Rawalpindi, Sargodha, Sialkot and Sukkur. FBR picked 21 cities