Prices of CRC up

    By NewzTodays Editorial Team | March 9, 2021

    The price of locally-produced Cold Rolled Coil (CRC) for various flat steel grades has witnessed a hike for the second time during the ongoing month. The industry has increased prices of CRC by Rs3,500 per ton over the weekend following a hike in global prices. This is the second time in the ongoing month that…

    CEO IMC urges to remove ACD

    By NewzTodays Editorial Team | March 5, 2021

    Aftab Ahmed The Chief Executive Officer of Indus Motors Limited Ali Asghar Jamali has urged the government to remove additional custom duty (ACD) on the import of spare parts in the upcoming budget. He has also demanded to give the same incentives for manufacturing of the hybrid cars in the new policy which the government…

    PVC margin declined by 9%

    By NewzTodays Editorial Team | March 3, 2021

    PVC margins have declined by USD75 per ton due to an uptick in ethylene prices. It will have a negative impact on local PVC products. PVC-Ethylene margin fell by 9% week on week (WoW) basis to US$775/ton hitting a one-and-a-half month low. PVC margins made historical high of US$ 675 per ton The margin narrowed on…

    DAP price in Pakistan increased by Rs300

    By NewzTodays Editorial Team | February 15, 2021

    The DAP price in Pakistan have increased by Rs 300 per bag due to high demand globally and cut in supply from China. Earlier, Fauji Fertilizer Bin Qasim Limited (FFBL) had increased price of DAP in Pakistan by Rs550 per bag. The company has increased its prices due to increased demand globally and the reduction…

    ECC approves extension in gas supply to FFBL

    By NewzTodays Editorial Team | February 3, 2021

    Aftab Ahmed The Economic Coordination Committee (ECC) on Wednesday approved an extension in gas supply to M/s Fauji Fertilizer Bin Qasim Limited (FFBQL) for the next five years. However, SSGC will supply gas on and when available basis. The agreement between SSGC and FFBQL has been expired last month. Petroleum Division placed a summary before…

    PSM needs Rs 32b more funds to clear liabilities

    By NewzTodays Editorial Team | December 19, 2020

    Aftab Ahmed Closed Pakistan Steel Mills (PSM) needs Rs 32 billion more to clear its liabilities before its privatization. After June 2020, all its utility payments, including SSGC, are pending. PSM almost consumed the budget allocation of the current financial year. The Ministry of Industries and Production informed the ECC that Pakistan Steel Mills (PSM)…

    50% taxes waived for electric 4 wheelers

    By NewzTodays Editorial Team | November 17, 2020

    The government on Tuesday said that it would waive off 50 percent taxes on the production of 1800 CC hybrid and electric cars under the new proposed Electric Vehicle (EV) policy for 4 wheelers. While briefing National Assembly Standing Committee on Industries and Production, Minister for Industries Hamad Azhar said that the government would give…

    Sazgar set to produce electric 2 wheelers

    By NewzTodays Editorial Team | November 12, 2020

    Aftab Ahmed The EV Policy is implemented. M/S Sazgar Engineering Lahore, along with the other four companies, is set to start production of electric 2 wheelers shortly. It is currently manufacturing 4 Stroke CNG Auto Rickshaws and Automotive Wheel Rims. The government has already incorporated the policy for 2/3 wheelers and HCVs in Finance Bill…

    POF JVs to set up first Electric Vehicles

    By NewzTodays Editorial Team | October 31, 2020

    News Desk Pakistan is set to have its first Electric Vehicles (EV) and Electric Batteries Manufacturing /Assembly Plant in Karachi. Wah Nobel Group of Companies, Almisehal Company, and Sheikh Zia-ul-Haq & Sons (Pvt) Ltd have signed a Memorandum of Understanding. So, the plant will start producing Electric vehicles (EV) and their batteries by mid-2022. Wah…

    Govt decides to tighten duty free cars’ import

    By NewzTodays Editorial Team | October 30, 2020

    Moen Khan The PTI government has tightened duty-free import of cars for disabled persons following the opposition of two key ministers. Earlier, the government had allowed the import of cars once in five years. However, it allows importing once in ten years period. It has also increased the income bracket of disabled persons from Rs—100,000…