Business

Latest Yamaha bike price in Pakistan

Published

1 year ago

Farwa

Following an increase in the general sales tax, one of the players in the two-wheeler segment in Pakistan — Yamaha Motor — also notified an increase in the rates of its motorcycles.

It should be noted that this is the second time the company has increased rates since the start of 2023, as the two-wheel maker increased motorcycle prices between the range of Rs3,000 to Rs3,500.

The new rates came into effect on February 21 (Tuesday).

Following are the new retail selling price (ex-factory):

Model	Retail price (exclusive of sales tax)	Sales tax — 18%	Retail price (inclusive of sales tax)	Previous price (inclusive of 17% GST)
YB125Z (Red, Black)	Rs261,440.68	Rs47,059.32	Rs308,500	Rs305,500
YB125Z DX (Red/Black/Blue)	Rs280,084.75	Rs50,415.25	Rs330,500	Rs327,000
YBR125 (Red, Black, Blue)	Rs287,711.86	Rs51,788.14	Rs339,500	Rs336,000
YBR125G (Red, Black)	Rs299,152.54	Rs53,847.46	Rs353,000	Rs349,000
YBR125G (Matt Dark Gray)	Rs301,694.92	Rs54,305.08	Rs356,000	Rs352,500

According to the Finance (Supplementary) Bill 2023, which was stamped by the National Assembly a day earlier — it was announced that the general sales tax (GST) rate had been increased to 18%.

Following an increase in GST, several industries and sectors raised the prices of goods and services.

Amid the ongoing economic crisis, Pakistan’s automobile sector has been hit hard owing to problems with the opening of letters of credit, arising due to the rapidly depleting foreign exchange reserves and a weakening rupee.

Business

Pakistan’s gold price increases by an additional Rs. 800 per tola.

Published

20 hours ago

Farwa

The price of yellow metal in the local market hit Rs247,300 on the first working day of the week, following a rise of Rs800 in a single day.

The cost of ten grams of 24-karat gold increased by Rs686 on Monday, making the current price Rs212,020.

In addition, the cost of 10 grams of 22-karat gold increased significantly, trading at Rs194,351.

These fluctuations are strongly correlated with shifts in the US dollar’s value, demonstrating the tight connection between gold prices and exchange rates. This emphasizes how local gold markets are impacted by variables related to the global economy.

The price of the precious metal dropped $16 on the international market on Monday, hitting $2,348 per ounce.

Business

A delegation from Pakistan travels to the US to bargain with the IMF for a new loan.

Published

20 hours ago

Farwa

The Pakistani delegation consists of the Governor of the State Bank of Pakistan, the Secretary of Finance, the Additional Secretary, and other individuals.

The Finance Minister was greeted at the airport by Pakistan’s Ambassador to the United States, Masood Khan, and Embassy staff.

The Finance Minister will meet with representatives of the World Bank and IMF while he is in the US.

The IMF and Pakistan are expected to negotiate next week, according to sources.

Sources claim that Islamabad will apply for a new credit package from the IMF.

The Finance Minister’s itinerary also includes meetings with members of think tanks and the world press.

Last month, Pakistan and the IMF came to a staff-level agreement over the third and final review of the $3 billion stand-by arrangement. Should the board of the global lender approve this deal, Pakistan will get approximately $1.1 billion.

Although a specific date has not been determined, the IMF board is anticipated to evaluate the case in late April, according to a spokeswoman.

Business

Pakistan’s petrol prices are anticipated to rise.

Published

21 hours ago

Farwa

The Oil and Gas Regulatory Authority (OGRA) will not disclose the anticipated increase in fuel prices until its work is finished, according to sources.

Prime Minister Shehbaz Sharif will receive the summary of the petrol price, and sources further stated that the new pricing will be revealed following his approval today.

Noteworthy to highlight is that Pakistan was previously ordered by the International Monetary Fund (IMF) to impose an 18% General Sales Tax (GST) on gasoline.

Details indicate that Pakistan was requested by the Monetary Fund to stop reducing sales tax on all goods, including gasoline.

To boost tax revenue, Pakistan’s recently elected government should impose a sales tax on petroleum items in addition to a Rs 60 charge.

High-speed diesel (HSD) was reduced by Rs3.32 per litre on March 31 but petrol prices increased by Rs9.66 per litre by the government.

In contrast to the reduction in the price of high-speed diesel (HSD) to Rs282.24 from Rs278.92, the price of gasoline jumped to Rs289.41 per litre.

The adjustments were brought about by a commensurate increase in the price of gasoline and a decline in the price of HSD on the global market, according to a statement released by the Finance Ministry.

According to the statement, the adjustment was made in accordance with government policy, which transfers pricing differences from the foreign market to the home market.