Weblmex.pk

Pakistan's first metal and chemicals pricing place

LCCI Radio

Live spot prices

  • Cotton (USD/lb.)
  • October 17,10:00
  • BID/ASK  
  • Change  
  • LOW/HIGH  
  • Silver (USD/t oz.)
  • October 17,10:00
  • BID/ASK  
  • Change  
  • LOW/HIGH  
  • Crude Oil (USD/bbl.)
  • October 17,10:00
  • BID/ASK  
  • Change  
  • LOW/HIGH  
  • Lead (US$/lb)
  • October 17,10:00
  • BID/ASK1.1331  1.1338
  • Change+0.0041  +0.36%
  • LOW/HIGH1.1284  1.1372
  • Zinc (US$/lb)
  • October 17,10:00
  • BID/ASK1.4377  1.4383
  • Change+0.0048  +0.33%
  • LOW/HIGH1.4288  1.4388
  • Aluminium (US$/lb)
  • October 17,10:00
  • BID/ASK0.9609  0.9611
  • Change+0.0002  +0.02%
  • LOW/HIGH0.9602  0.9652
  • Nickel (US$/lb)
  • October 17,10:00
  • BID/ASK5.3244  5.3267
  • Change+0.0159  +0.30%
  • LOW/HIGH5.2859  5.3312
  • Copper (US$/lb)
  • October 17,10:00
  • BID/ASK3.1943  3.1947
  • Change+0.0204  +0.64%
  • LOW/HIGH3.1718  3.1977
  • Gold (US$/t oz.)
  • October 17,10:00
  • BID/ASK  
  • Change  
  • LOW/HIGH  

Manufacturers urged to develop fuel efficient vehicles


ISLAMABAD: Pakistan’s automobile market has great potential to grow if manufacturers wholeheartedly strive to make cost-effective and fuel-efficient vehicles for a growing middle class, the Engineering Development Board said in a statement here on Monday.

The board said that instead of visualising the energy situation in Pakistan and defining a roadmap for developing fuel efficient cars for consumers, the world renowned manufacturers operating in Pakistan have resorted to CNG-fitted cars which actually are not technically designed for CNG in the first place, thereby making the already expensive cars costlier by at least Rs60,000 for consumers and making the engines of their cars prone to rapid deterioration.

The local car assemblers have once again raised voice against import of used cars. The three Japanese car assemblers, who share a market of 130,000 cars between them, regularly blame low volumes as main stumbling block impeding further indigenisation of critical parts and their efforts to give relief to the helpless consumers by way of rationalising cars prices.

An EDB spokesman said that while car assemblers criticise government’s move to allow import of used vehicles older up to five years, they should at the same time also review their own procedure of selling vehicles. A buyer deposits full amount for a car in a company’s account, inclusive of all taxes, duties, levies and even the duties to be paid for import of CKD at the time of booking, but the buyer is made to wait for three to six months for delivery of the vehicle.

Statistics supposed to be available with car assemblers would indicate increasing number of buyers waiting in line to get their cars on priority, but usually end up paying a premium called ‘on money’ ranging from Rs30,000 to 100,000 to the dealers.

The spokesman added that a careful look at the profit of car assemblers in Pakistan would show a sizable amount that fattens their account books comes from interest income. This profit is generated and probably invested by assemblers from the money of helpless buyers who are made to wait for months for their cars to be delivered.

Banner
Banner