Tag: Government Restrictions

  • Govt implements measures to control onion prices amidst rising inflation

    The interim federal government has reportedly chosen to implement restrictions on onion exports due to the persistent surge in prices, as revealed by sources on Sunday. 

    According to detailed information, the government has introduced advance payments to discourage onion exports and has established a minimum export price. 

    These measures are aimed at preventing an anticipated shortage of onions and curbing further increases in prices.

    In light of escalating inflation, Pakistan witnessed a short-term inflation spike of 43.16 per cent in the week ending December 14, primarily driven by increased costs of pulses, rice, and vegetables. 

    The weekly inflation has now surpassed 41 per cent for the fifth consecutive week, influenced by elevated gas prices and electricity tariffs compared to the previous year.

  • Economic situation forces Honda Atlas Pakistan to suspend production for more than 20 days

    Economic situation forces Honda Atlas Pakistan to suspend production for more than 20 days

    Honda Atlas Cars Pakistan Limited (HACPL), one of the leading car manufacturers in Pakistan, has announced the temporary closure of its plant from March 09, 2023, to March 31, 2023.

    In a notice sent to the Pakistan Stock Exchange (PSX), the company cited disruptions in its supply chain caused by the current economic situation in Pakistan.

    The government’s strict measures, such as restricting the opening of LCs for the import of completely knocked down (CKD) kits and raw materials, and halting foreign payments, have significantly impacted the company’s production capabilities.

    The shutdown is expected to affect Honda car production in the region and potentially impact the company’s financial performance.

    The closure of HCAR’s plant is also likely to have a ripple effect on the automotive industry in the region, highlighting the challenges faced by businesses in Pakistan due to the current economic situation.

  • DHL limits operations in Pakistan due to outbound remittance restrictions

    DHL limits operations in Pakistan due to outbound remittance restrictions

    International logistics company, DHL, announced that it will partially suspend some of its operations in Pakistan due to restrictions on outbound remittances by the government.

    DHL Pakistan has informed its customers that it will suspend its “Import Express Product” and restrict outbound shipments to a maximum weight of 70kg per shipment for all customers billed in Pakistan from March 15.

    According to Dawn, the company has stated that the last pick-up date will be March 14, and shipments picked up on or before this date will still be delivered.

    The decision comes as the PMLN-led coalition government and the State Bank of Pakistan have imposed restrictions on outward remittances for foreign companies operating in Pakistan amid fast-dwindling foreign exchange.

    DHL has stated that the remittances sent by DHL Pakistan cover the cost of DHL’s international aviation, hub, gateway, and last-mile delivery incurred through its global network for the shipments sent/received by valued customers. The company has added that this constraint has made it unsuitable for DHL Express to continue providing the full product offering in Pakistan.