The market is currently flooded with smuggled tires across various sizes, a stark contrast to the slowdown observed last year following government crackdown efforts. Despite their subpar quality, many consumers pick for smuggled tires due to their affordability, often unaware of the potential consequences. Of the 14.5 million tires sold annually in Pakistan, approximately 25 … Read more
KARACHI: The annual consumption for automotive tyres in Pakistan is around 14 million and half of the demand is met through smuggling, said Hussain Kuli Khan, chief executive officer of Ghandhara Tyre and Rubber Company Limited (formerly known as General Tyres). He said around 15 per cent demand is met by domestic production, while the … Read more
LAHORE: The flourishing illicit trades of tobacco, tea, tyres, lubricants and pharmaceuticals are denting the national exchequer with a loss of Rs320 billion annually in taxes. The lack of political will, corruption in tax administration and political influence of evaders are the main causes of the illegal trades. Unabated smuggling, counterfeit and non-duty paid production … Read more
This video shows a plane straining to land due to strong winds, which has been widely circulated online. Storm Corrie was to blame for the severe winds. blew through with severe gusts of up to 92 mph, causing a few fatalities, power outages, and the cancellation of thousands of flights and trains. A British Airways … Read more
LAHORE: Volatile exchange rate and illicit trade are major challenges for legal businesses both in the manufacturing, as well as trade/import sector, said Awais Saeed Piracha, chief executive officer of Trinity Enterprises, a major importer of variety of tyres from two- to four-wheelers to trucks, buses and industrial and agricultural machinery. “We give 80 to … Read more
KARACHI: There has been a significant increase in the tyre prices due to higher cost of production/import emanating from depreciating rupee, increase in regulatory duty by 10 per cent to 25 per cent and an increase in the Customs valuation, the predetermined value on which the taxes are imposed. Moreover, lesser inflows of smuggled goods … Read more
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has urged the government to incentivise the local auto industry in the upcoming auto policy to ensure production of high-tech parts/components locally, a statement said. LCCI president Mian Nauman Kabir said that the localisation in the auto sector was limited to the manufacturing of steel metal, … Read more
