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Slight uptick in passenger car sales reported during November 2022

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  • Increase was of 39% on month-on-month basis.
  • Car sales decreased by 39% in first five months of FY23 
  • Further improvement expected in coming months after increase in issuance of LCs.

KARACHI: Passenger cars saw a slight uptick in sales during November 2022 compared with the data of the same month of 2021, reported The News on Tuesday citing data from the Pakistan Automotive Manufacturers Association (PAMA).

In percentage terms, the increase was 39% on a month-on-month basis, with analysts foreseeing a further improvement in the coming months due to the improved availability of raw materials for the car manufacturers after an increase in the issuance of letters of credit.

However, apart from the Suzuki Alto, sales of all other variants of cars, trucks, buses, tractors, jeeps, pick-ups, and three-wheelers as well as two-wheelers saw a decline in November 2022 compared with November 2021.

On the other hand, car sales decreased by 39% in the first five months of FY23 to 55,144 units against 90,303 units sold in the same period last year.

The data released by PAMA, passenger car sales increased by 0.60% or 93 units to 15,444 units in November 22 compared with 15,351 units sold during the same month last year. November 2022 sales increased by 39% or 4,315 units compared with 11,129 units sold in October 2022.

During this period, sales of 1300cc and above cars were recorded at 5,831 units, down 28% compared with the same period last year, when 8,102 units were sold. In November 2022, 1000cc cars recorded sales of 1,854 units, (1,136 units of Suzuki Cultus and 718 units of Suzuki WagonR) against 3,641 units in the same month last year.

Below 1000cc vehicles recorded a sale of 7,759 units, higher by 115% or 4,150 units against 3,609 units last year. Suzuki’s new Alto saw remarkable sales of 7,255 units, up by 282% to last year’s sales of 2,420 units.

Meanwhile, buses and trucks witnessed a decrease to 342 units in November 22 from 532 units in November 2021. The sale of jeeps and pick-ups went down to 2,947 units from 3,363 units sold during the same period last year.

On the other hand, sales of tractors dropped to 1,240 units from 4,617 units during November last year. The sale of rickshaws and motorbikes decreased to 110,529 units in November 2022 against 166,731 units in the same period last year.

According to a report of Topline Securities, Pakistan’s overall car sales were around 20,000 units, up 35% month-on-month, primarily due to the availability of CKD parts which led to higher production in November 2022 as compared to October 2022.

Pak Suzuki reported an increase of 55% month-on-month to 12,400 units in November 2022 followed by Honda Car’s increase of 38% month-on-month to 1,973 units in November 2022.

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An investigation was “launched” into PTA’s inability to get Rs. 78 billion back from Telcos

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The PTA has reportedly been instructed to reply to NAB by July 29. According to the enquiry, the national exchequer has suffered losses as a result of the delay in collecting dues.

The PTA has been asked to provide NAB with information about any pertinent records, court proceedings, and overdue bills. The NAB Karachi has summoned the PTA officials to appear with all pertinent documentation.

All of the principle sum has to be paid by the LDI firms, according to sources. But due to judicial stay orders, the collection of dues has been impeded.

These sources further state that a steering group has been established by the Ministry of IT to supervise the issue of dues recovery.

In a previous event, the tariffs levied on importing cell phones from outside were clarified by the Pakistan Telecommunication Authority (PTA).

Contrary to what some internet reports claim, PTA clarified in response to recent news regarding the tariffs on mobile phone imports that there hasn’t been a formal decision to remove these levies in Pakistan.

the PTA.Pakistanis living abroad will be the only ones free from these levies, according to the PTA. A SIM card can be inserted and the phone restarted to temporarily register a device for non-PTA mobile subscribers.

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Weekly inflation in Pakistan increased by 0.17 percent.

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The SPI for the week under review in the aforementioned group was reported at 321.95 points, as opposed to 321.40 points during the previous week, according to the PBS statistics.

The SPI for the combined consumption group saw a 20.09 percent increase in the week under review compared to the same week the previous year.

The weekly SPI includes 51 necessary items for every spending group and 17 urban areas, with a base year of 2015–16 = 100.

The SPI for the lowest consumption category, which is up to Rs 17,732, grew by 0.08 percent from 311.97 points to 312.22 points this past week.

0.18 percent,The index of consumption for the lowest consumption groups, which are Rs 17,732-22,888, Rs 22,889-29,517, Rs 29,518-44,175 and above Rs 44,175; increased by 0.13 percent, 0.15 percent, 0.18 and 0.19 percent, respectively.

Nineteen (37.25%) of the fifty-one commodities had price increases over the week, eight (15.69%) had price decreases, and twenty-four (47.06%) had unchanged pricing.

On a weekly basis, the following commodities saw significant price decreases: tomatoes (9.19%), onions (2.14%), LPG (1.04%), bananas (0.53%), wheat flour (0.35%), potatoes (0.17%), pulse masoor (0.16%), and bread (0.05%).

Chicken (4.80%), garlic (2.01%), pulse gramme (1.87%), eggs (1.71%), beef (0.93%), gur (0.89%), pulse moong (0.84%), fresh milk (0.45%), firewood (0.23%), and cigarettes (0.12%) were among the items whose average prices increased significantly week over week.

The commodities that saw a year-over-year decline were: wheat flour (31.75%); cooking oil (13.44%); vegetable ghee 2.5 kg (10.42%); vegetable ghee 1 kg (9.85%); mustard oil (8.33%); eggs (5.82%); rice basmati broken (4.15%); and tea package (2.52%).

Gas prices for Q1 (570.00%), onions (96.01%), pulse gramme (40.39%), powered milk (39.11%), garlic (34.61%), pulse moong (29.77%), men’s sandals (25.01%), beef (23.52%), salt powder (23.28%), pulse mash (22.50%), and energy saver (17.96%) were among the commodities whose average prices increased year over year.

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The price of gold has drastically dropped in Pakistan.

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As per the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the cost of 24-karat gold per tola decreased by Rs 2,300, standing at Rs 250,500.

A kilogramme of 24-karat gold costing Rs1,972 less at the local market, making it worth Rs2114,763. Ten grammes of 22-karat gold had a price decrease to Rs196,866 as well.

After losing a significant $43 during the day, the rate per ounce of gold on the international market also decreased. It currently stands at $2,370.

On Thursday, the price of 24-karat silver also experienced a decline, falling by Rs60 to settle at Rs2,860 petal.

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