Expansion rate may lower to 4.34% in April: specialists

Dunya News when asked twelve research experts having a place with financier house and other money related organizations uncovered that the swelling rate for April will liable to remain around 4.34% which would be brought from Spring level down to 4.94 percent.

As per examiners, the costs of a few products which assumed significant part at expansion wicker container enrolled descending development.

The costs of green vegetable, tomatoes and potatoes and even chicken tumbled down pointedly.

This has been a hint of something better over the horizon for swelling rate as it has indicated resistances and if May rate stay at same level loan cost, the survey liable to stay noiseless.

The benchmark enthusiasm at 5.75 percent had as of now been at 42 years low level.

Government chooses to keep oil costs unaltered

ISLAMABAD - The legislature has chosen to keep oil based good costs unaltered for May with a plan to lift income gathering.

In an announcement today (Sunday), the Service of Back affirmed there will be no adjustment in the costs of oil based goods.

The Oil and Gas Administrative Expert (OGRA) had proposed a cut in engine fuel, fast diesel and climb in lamp fuel and light diesel costs.

The national exchequer is relied upon to win inside the scope of Rs 2 billion to Rs 3 billion from the offers of oil based goods.

From one month from now, petroleum will be sold at Rs74 per liter, rapid diesel Rs83 per liter, lamp oil Rs44 per liter and light diesel oil Rs44 per liter.

Pak offers lucrative motivators to financial specialists under new Car Improvement Arrangement

ISLAMABAD (Application) - Administrator Pakistan Relationship of Car Parts and Extras Makers (PAAPAM) Mashood Ali Khan has said under new Car Improvement Approach (ADP 2016-21), lucrative motivating forces have been offered to the speculators in the Greenfield venture classification (new interest in vehicle producing).

Talking at a class sorted out by Designing Improvement Board (EDB) as a team with PAAPAM and International safe haven of Pakistan in

Berlin amid the display at Pakistan Structure in Hannover Messe, he highlighted the business potential in Pakistan and the impetuses being offered to the new financial specialists under various plans of the administration which incorporate motivations under Unique Monetary Zones, National Modern Stops and Fare Handling Zones, a public statement gotten here Friday said.

The speculators valued the endeavors of Pakistan government to draw in interest in the nation through arrangement of impetuses to vehicle makers and guaranteed that they will soon plan to visit Pakistan to talk about the conceivable outcomes to work together in Pakistan.

The business councellor, Government office of Pakistan in Berlin likewise communicated his perspectives on the business openings accessible in Pakistan and valued the endeavors of the EDB for sorting out one of the biggest support of building industry of Pakistan in this particular worldwide reasonable pulling in interest in the designing area.

He respected the members to examine their arrangements for innovation tie ups/joint endeavors with the administration of the EDB/Service of Businesses and Generation who are striving to inspire the different modern parts in the nation.

Around 30 industrialists from various nations for the most part including China, Thailand, Hong Kong, Germany, France and Turkey went to the workshop.

The global guests valued the feel at Pakistan Structure and the cordiality. While going by Pakistan Structure the nature of designing merchandise being made by Pakistan was likewise appreciated.

The members indicated enthusiasm for having business ties with Pakistani designing organizations as joint wander assentions, specialized coordinated efforts and permitting understandings which is truly necessary in Pakistan.

Australia to restrict gas exports as energy crisis bites

Major Autralia Gass

SYDNEY (AFP) - Australia will enforce export restrictions on major gas producers, the prime minister said Thursday, to shore up domestic supply as a growing energy crisis sees power prices rise and blackouts more common.

The country is expected to surpass Qatar as the world’s largest liquid natural gas producer by 2020 -- with Japan, China and South Korea key buyers. But booming export demands have left it short of local supplies.

Prime Minister Malcolm Turnbull said exporters were dipping into domestic reserves to fulfil foreign contracts and intervention was needed to curtail "dramatically higher prices" paid in Australia.

"It is ridiculous for us to be on the edge of becoming the largest LNG exporter in the world and not have to have enough gas for our businesses, for our households, for industries, great industries like this here in Australia," he said at a manufacturing plant in Queensland.

The move -- which from July 1 will allow the government to put export controls on producers to ensure they put more into the domestic market than they take out -- was a "temporary measure" until Australia could unlock more reserves, he added.

Turnbull accused state governments, who in some instances have banned gas production on environmental grounds, of "putting the energy sector and manufacturing at risk".

"We should be able to export plenty of gas and have plenty of gas available for our domestic market. We should be able to do both and we need to get more production."

Major Australian gas producer Santos said it would collaborate with the government.

"As an Australian company, Santos has been a long term supplier of natural gas at affordable rates in support of the domestic market on the Australian Securities Exchange," it said in a statement.

"Moving forward Santos will supply more gas into the Australian domestic market than it purchases for its share of LNG exports."

Despite being one of the world’s biggest coal and gas producers, political debate over energy supply has raged since South Australia suffered a statewide blackout in September and record-high temperatures in recent months put pressure on the national energy grid.

The Australian Competition and Consumer Commission announced last week an industry-wide investigation into Australia’s gas market, fearing that soaring prices would put Australian firms out of business.

"The inquiry will examine how gas suppliers will make more gas available to Australian industry and other domestic gas users, and the effect this has on overall market dynamics," ACCC chairman Rod Sims said.

Prices of 450 items reduced at govt stores

SLAMABAD: The Util­ity Stores Corporation (USC) launched the second phase of Ramazan Relief Package on Monday by reducing the prices of more than 450 items by up to 10 per cent.

Earlier in the month, the USC reduced the prices of more than 700 items. How­ever, the prices of key edible items including sugar, gram flour, etc would be reduced just ahead of Ramazan.

Currently, sugar is selling at Rs62 per kg both at the Utility Stores and in the open market.

USC Spokesman Wajid Ali Khan said the prices of 450 items were reduced after negotiations with suppliers.

He added the new prices have been implemented with immediate effect and will continue up to the end of Ramazan.

Mr Khan said the price reduction more than a month ahead of Ramazan will help consumers to plan their kitchen budget in advance.

Govt hints at raising tax-free transaction threshold to Rs100,000 in next budget

SLAMABAD (Daily Dunya) - Minister of Finance Ishaq Dar and Federal Board of Revenue (FBR) has hinted at raisng tax-free transaction threshold to Rs100, 000 in upcoming fiscal year 2017-18, revealed State Bank of Pakistan (SBP) Governor Ashraf Mahmood Wathra on Tuesday.

At present, withholding tax of 0.4 is imposed on every transaction of non-filers.

Wathra was talking to media during his visit to Karachi Chamber of Commerce and Industry (KCCI).

“Central bank is anticipating growth rate of 5pc for FY 2017-18 but main focus is to attain solid GDP rate of 7pc or above as it will produce enormous employment opportunities”, articulated Wathra.

Wathra disclosed that loan volume to private sector has piled up to Rs374 billion in ongoing fiscal year whereas figure stood at Rs267 billion in previous year.

High premiums for instant car deliveries

KARACHI: Impatient consumers and investors are paying hefty premiums (on money) to dealers to avoid waiting for four to five months to get locally assembled cars delivered.

No locally produced car is available at showrooms for ready spot sales. Either the buyers have to wait for four to five months for delivery or pay extra money to lift the vehicle, dealers said.

An informal market survey reveals that if buyers book Toyota Corolla Xli or Gli models now, they will get the vehicles delivered in July while Toyota Grande and Altis would be delivered by April or May. Premium on Corolla Xli is Rs135,000 while on money on Corolla Gli ranges between Rs170,000-180,000.

Dealers said the first six months of every year remain highly volatile in terms of demand as consumers usually prefer buying new models from January onwards due to change of model year.Lower interest rates have also lured buyers to go for car financing, jacking up the share of auto financing in total car sales to over 30 per cent from 10-15pc one and a half years back.

Dealers said IMC has been producing over 200 vehicles per day in which Toyota Corolla enjoys the lion’s share.

However, the higher production capacity appears insufficient to cope up with huge demand.

Sources said the delivery time of Honda Civic is August if it is booked now. As a result, buyers are paying Rs150,000-200,000 to dealers to get instant delivery. Some dealers said that premium on Civic has swelled to around Rs250,000 for models which are more in demand.

Those booking Honda City now would get the car keys in May to August depending on the model. The on money on City hovers between Rs100,000-130,000.

Dealers said Honda Atlas Cars is now producing 170 cars per day as compared to 110 four months back but improved production fails to beat burgeoning demand.

The decades-old models of Pak Suzuki are also available on on money due to lengthy delivery time.

The delivery time for Suzuki Mehran is three to four months and dealers are charging Rs40,000-45,000 as premium for ready availability. Similar premium and delivery time exists for Bolan and Ravi.

Premium on Suzuki WagonR is Rs120,000 as its delivery time hovers between five to six months. Surprisingly imported Suzuki Ciaz would be delivered in three months on booking but dealers assure quick delivery to buyers at Rs90,000 on money. Only Suzuki Swift is being delivered in one month’s time.

It is not clear whether the assemblers have artificially created a demand and supply gap despite their production capability or the demand has actually outstripped supplies. The federal government has never taken any action against the manufacturers and dealers on on money business.

Chairman All Pakistan Motor Dealers Association (APMDA), H.M. Shahzad said, “Our used car dealers are not involved in on money business.”

Pak Suzuki may roll back its expansion plan

KARACHI: Pak Suzuki Motor Company Ltd (PSMCL) will review its decision to invest $460 million if the government fails to respond to its request for incentives until April, PSMCL spokesperson Shafiq Ahmed Sheikh told Dawn on Friday.

The proposed plant will generate 319,000 direct and indirect jobs, he added.

The company has been waiting for the government’s response for one year. Mr Ahmed said Finance Minister Ishaq Dar had assured PSMCL that the company would receive approval for incentives by January.

Board of Investment (BoI) Chairman Dr Miftah Ismail had assured PSMCL of the same in a recent visit to its plant.

As per the request of Mr Dar, the company submitted specifications, schedule and other details to the BoI on January 1.

He said PSMCL’s principal in Japan has been waiting anxiously for approval of requested incentives to start work on the new plant.

The project is already delayed, he said, noting that the company’s financial year started from January 1.

Total promised investment is around $660m in which foreign direct investment from Japan is $250m. PSMCL is going to arrange $210m through its own funds and bank borrowings while vendors will invest $200m.

He said the company has purchased land for the plant. “This is a one-time investment. The plant’s completion will be in 18-24 months.”

However, Mr Ahmed said it is premature to comment about upcoming model details and specifications.

Senate’s Standing Committee on Industries and Production Chairman Hidayat Ullah and Federation of Pakistan Chambers of Commerce and Industry President Zubair Tufail informed the government last month that they were in favour of granting incentives to PSMCL for two years on new models at the greenfield plant.

Traumatizing load shedding ahead as PSO's financial woes worsen

ISLAMABAD (Daily Dunya) - Financial woes of Pakistan State Oil (PSO) have worsened as receivables, mostly emanating out from country’s energy sector, have swelled to record Rs274 billion which sheds light on continuation of chronic circular debt.

According to details available, total receivables of state-owned PSO has risen to Rs274 billion as of March 24, 2017.

Public sector has biggest chunk of payables to PSO. This is evident from Rs62 billion outstanding against Hub Power Company and about Rs23 billion outstanding against Kot Addu Thermal Power Company. Similarly, payments against other public sector power generation companies (Gencos) stands at mammoth Rs141 billion whereas national flag career PIA owes Rs15 billion to PSO.

PSO is supposed to make payments worth Rs63 billion in terms of imports of petro products and Liquefied Natural Gas (LNG) from Kuwait Petroleum and Qatar respectively.

Analysts, monitoring all situation, fear country would witness traumatizing load shedding in upcoming summer season if power sector fails in making timely payments.