Tag: price hike

  • Yamaha YBR125G now costs Rs292,000 after Rs26,000 hike

    Yamaha YBR125G now costs Rs292,000 after Rs26,000 hike

    The prices of Yamaha’s motorcycle lineup have increased, with the hike reaching as high as Rs26,500 and the new pricing taking effect from July 1st.

    According to Brecorder, the development comes a day after Atlas Honda raised the prices of its lineup.

    Yamaha’s YB125Z has seen a price hike of Rs23,500, bringing the current cost to Rs255,000. The cost of the YB125Z DX also increased by Rs25,000. The updated cost is Rs273,500.

    After a Rs25,500 price increase, the YBR125 will now be available for Rs280,500. The cost of the YBR125G rose from Rs26,500 to Rs292,000. The cost of the YBR125G (Matte Dark Gray) has also gone up by Rs26,500 and will now be available for Rs295,000.

    Last month, the company similarly raised the price of bikes by between Rs21,000 and Rs23,000. Motorcycle producers at the time cited rising raw material costs, rising international freight charges, and the ongoing depreciation of the rupee as causes.

    Sabir Sheikh, Chairman of the Association of Pakistan Motorcycle Assemblers (APMA), stated that the recently enacted super tax of 10 per cent and the weakening rupee are to blame for the increase.

  • PANAH suggests tobacco taxes be raised even higher

    PANAH suggests tobacco taxes be raised even higher

    Pakistan National Heart Association (PANAH) has proposed that the government increase tariffs on unnecessary and harmful tobacco products. Increased tobacco-related levies will lessen diseases and healthcare expenses while also helping to generate tax revenue.

    Sanaullah Ghumman, PANAH’s General Secretary, announced this at a news conference held by the Pakistan National Heart Association on Wednesday at a local hotel.

    Smoking, according to Sanaullah Ghumman, is not healthy for human health in any aspect, and it is the first step toward addiction. Health experts and civil society groups have also urged the Prime Minister to increase tobacco goods taxes.

    A significant number of health experts and civil society representatives attended the event. Tobacco kills 8 million people worldwide each year, according to a global study, and more than 1.5 million individuals in Pakistan lose their lives each year owing to smoking.

    On World Food Safety Day, PANAH proposed that tariffs on sugary drinks be increased as well, as these beverages are harmful to children and cause a variety of health problems.

    Sanaullah Ghumman spoke at the event, urging a 30 per cent rise in tobacco product taxes to protect minors from tobacco usage.

    “This will be a win-win situation for us,” he continued, “since it will lower the health burden while also dramatically increasing revenue”. PANAH, he claimed, had been educating the public about a variety of dangerous diseases, including heart disease and its causes, for 39 years.

  • Khan or Shehbaz: Who should be blamed for the massive petrol bomb?

    Khan or Shehbaz: Who should be blamed for the massive petrol bomb?

    The incumbent government on Thursday unleashed another massive gasoline bomb on the country after another hike of Rs30. In less than a month, the price of petrol has risen by Rs60 to Rs209.86. The recent hike has been made to meet the International Monetary Fund’s (IMF) conditions.

    The latest petrol price hike came just hours after the National Electric Power Regulatory Authority (NEPRA) approved a power tariff hike of Rs7.91 per unit.

    The question remains who should the Pakistanis blame for the burden the governments of the past and present putting them?

    The interfering ex-prime minister is distracting the government with his constant threats

    The Economist magazine in its recent article titled, “Imran Khan is jeopardising Pakistan’s attempts to fix its economy” has blamed the former Prime Minister (PM) Imran Khan as the reason for what is happening in Pakistan.

    “The reserves are at their lowest level since 2019, when Pakistan last sought help from the IMF. Only half the $6bn bail-out agreed at the time has been disbursed. Mr Khan, then prime minister, originally agreed to cut subsidies and reform the economy but reduced fuel prices instead. The country is running deficits on both its budget and its current account. It needs some $37bn worth of financing for the fiscal year beginning in June, reckons the finance minister,” writes The Economist.

    The Economist further writes about how the federal capital witnesses a protest once every year where the state gets questioned and those in power are demanded answers. But this time it was a former premier whose continuous marches and threats are creating instability. “The interfering ex-prime minister is distracting the government with his constant threats.”

    “Mr Khan does not appear to be giving up hope. He is petitioning the Supreme Court to guarantee safe passage for potential follow-up marches. The coming spate of painful economic moves will supply him with plenty of excuses to paint the government as American stooges and enemies of the people. The appointment of a new army chief, due in November, will add yet more uncertainty to the political balance. To fix its economy, Pakistan badly needs stability. It will spend the coming months with anything but,” writes The Economist.

    Hesitation to get cheap oil from Russia

    The Current reached out to Pakistan Tehreek-e-Insaf’s (PTI) Spokesperson on Economy and Finance, Muzzammil Aslam and he said, ” First international markets, second lack of planning by the current government, and the hesitation to get cheap oil from Russia is the reason for the recent petrol bomb.”

    “The price pass-through could be lower if they cut the refinery margins. Lastly, it is not necessary to raise prices, one can make up subsidies by imposing windfall taxes, wealth taxes etc,” says Aslam.

    Read more: Fact Check: Imran Khan did not arrange a 30% cheaper oil deal with Russia

    Decreasing prices was a selfish political move by PTI, but PMLN led-govt should have fixed it immediately

    The Current reached out to Geo News’ Anchorperson Shahzad Iqbal to ask for his point of view on the present conditions being faced by the people. Commenting on the issue Iqbal said, “Decreasing prices was a selfish political move by the PTI government to either survive or to create hurdles for the incoming government. But Pakistan Muslim League-Nawaz (PML-N) led government should have fixed it immediately.”

    “The delay by the sitting government cost Pakistan Rs150 billion,” said Iqbal.

  • Hyundai Sonata 2.5 will now cost Rs7.85 million

    Hyundai Sonata 2.5 will now cost Rs7.85 million

    Like the majority of automakers in Pakistan, Hyundai Nishat has joined the price hike bandwagon by raising the price of its sedan offerings; the Elantra GLS, Sonata 2.0, and Sonata 2.5 variants, due to increased shipping costs and continuous depreciation of the local currency.

    The premium category sedan, Hyundai Sonata 2.0 witnessed an increase of Rs140,000 in its earlier rate of Rs6,859,000. After the price hike, the car costs Rs6,999,000. Hyundai Sonata’s top trim will now be sold at Rs7,849,000 after a price increase of Rs100,000 in its previous price of Rs7,749,000.

    Hyundai Elantra GLS after getting a price of Rs150,000 will be offered at Rs4,949,000, the exact model was previously sold at Rs4,799,000.

    Read more: Pakistani rupee crashes to historic low of Rs194 against US dollar

    Almost every local or imported sedan is now out of reach of the masses as the auto industry has been massively affected by the ongoing devaluation of the Pakistani currency against the US dollar, increased freight charges along with the premium culture (own trend) in the country.

  • Pak Suzuki announces price hike for its overall lineup

    Pak Suzuki announces price hike for its overall lineup

    Following local vehicle manufacturers in Pakistan, Pak Suzuki Motors Company Limited (PSMCL) has announced a hefty price hike for their whole lineup. The new charges are effective immediately (May 9, 2022).

    Suzuki’s flagship hatchback, the Suzuki Swift GLX CVT, has received a price increase of Rs129,000 in its prior price of Rs3,169,000. The recently introduced vehicle now costs Rs3,298,000.

    After a price rise of Rs100,000 from its previous price of Rs2,662,000, the Suzuki Cultus AGS will now be available for Rs2,762,000.

    The price of the Suzuki Bolan AC variant has increased by Rs45,000 from its previous price of Rs1,370,000. Bolan is presently on the market for Rs1,415,000.

    Suzuki Alto VXL AGS, the automaker’s best-selling vehicle, will now be available for Rs1,951,000, up to Rs65,000 from its previous price of Rs1,886,000.

    Read more: Honda Atlas announces price hike instead of fixing delivery issues

    Suzuki’s Wagon R AGS, which was originally priced at Rs2,319,000 but is now priced at Rs2,399,000 after an increase of Rs80,000.

  • Honda Atlas announces price hike instead of fixing delivery issues

    Honda Atlas announces price hike instead of fixing delivery issues

    Honda Atlas, like its counterpart Indus Motor Company, announced a price hike for the second time in less than two months, increasing ex-factory prices up to Rs170,000, claiming rupee devaluation as the cause for transferring the burden to the consumers.

    The ‘latest generation’ of Honda city in Pakistan is now priced at Rs3,264,000 after getting a hike of Rs135,000. Aspire 1.5 variants of Honda city witnessed a hike of nearly Rs150,000 in their previous rate.

    Meanwhile, Civic prices increased by Rs150,000 across all three variants: the Civic 1.5L CVT, Civic 1.5L Oriel M CVT, and Civic RS 1.5L CVT. The top variant of Honda civic RS 1.5 LL CVT from May 1 will be offered at a price of Rs6,649,000 which was previously sold at Rs6,499,000.

    Honda’s MPV, the BRV, is now priced at Rs4,249,000 after a price increase of Rs170,000. BRV was earlier sold at Rs4,079,000.

    Read more: Toyota Pakistan announces another massive price hike for all cars

    Also, these prices are exclusive of freight charges and any government tax applicable at the time of delivery that will be paid by the consumer.

  • Toyota Pakistan announces another massive price hike for all cars

    Toyota Pakistan announces another massive price hike for all cars

    For the second time in less than a month, Toyota Indus Motor Company (IMC) has announced a hefty price increase for all of its locally assembled vehicles. The increase was attributed by the corporation to the ongoing depreciation of the local currency against the US dollar.

    All variants from Toyota have received a hike of more than Rs170,000, which goes up to nearly Rs600,000.

    Toyota Corolla

    The old price of the Corolla Altis X Manual 1.6 was Rs3,749,000, and it will now cost Rs3,909,000 after a rate hike of Rs160,000.

    The Altis X Automatic 1.6 witnessed a price increase of Rs170,000, and now costs Rs4,099,000, up from Rs3,929,000 earlier.

    Altis X Automatic 1.6 Special Edition (SE) was previously priced at Rs4,309,000 and is now priced at Rs4,509,000.

    Altis X CVT-i 1.8, which also got a Rs200,000 hike, bringing the rate to Rs4,499,000, up from Rs4,299,000 previously.

    The price of the Altis Grande X CVT-i 1.8 (Beige Interior) has increased by Rs210,000, bringing the total price to Rs4,859,000, up from Rs4,649,000 previously.

    The Corolla Altis Grande X CVT-i 1.8 (Black Interior) was priced at Rs4,689,000, which now costs Rs4,899,000 after a price increase of Rs210,000.

    Toyota Yaris 

    The present price of the Yaris GLI MT 1.3 is Rs2,899,000, however after a price increase of Rs140,000, the new price is Rs3,039,000.

    Yaris ATIV MT 1.3, saw a price increase of Rs150,000, bringing the total price to Rs3,209,000, up from Rs3,059,000 previously.

    Yaris GLI CVT 1.3, and following the recent rise of Rs140,000, the car’s new price is Rs3,249,000, up from Rs3,109,000.

    Yaris ATIV CVT 1.3, used to cost Rs3,229,000, is now priced at Rs3,449,000 after a price spike of Rs150,000.

    The revised pricing of the Yaris ATIV X MT 1.5 is Rs3,449,000, an increase of Rs160,000. It was last sold for Rs3,289,000.

    The new price of the Toyota Yaris ATIV X CVT 1.5 is Rs3,659,000, increase from the original price of Rs3,499,000.

    Toyota Revo

    The earlier price of the Hilux E was Rs7,059,000, and following a Rs300,000 rise, it would now cost Rs7,359,000.

    Hilux Revo G Manual 2.8: The business raised the price by Rs330,000, bringing it to Rs7,989,000, up from Rs7,659,000 previously.

    The Hilux Revo G Automatic 2.8 has increased by Rs350,000, bringing its new price to Rs8,379,000, up from Rs8,029,000 previously.

    Hilux Revo V Automatic 2.8 was formerly priced at Rs8,839,000, but it is now priced at Rs9,229,000, a Rs390,000 increase.

    The Hilux Revo Rocco, which used to cost Rs9,319,000, now costs Rs9,729,000 after a price increase of Rs410,000.

    Toyota Fortuner

    Fortuner 2.7 G, formerly priced at Rs9,499,000, will now cost Rs9,959,000 after a price increase of Rs460,000.

    Fortuner 2.7 V now costs Rs11,459,000 instead of Rs10,949,000, a huge difference of Rs510,000.

    Fortuner 2.8 Sigma 4, received a price hike of Rs550,000, bringing it to Rs12,039,000, up from Rs11,489,000 previously.

    The fourth is the Fortuner Legender, which used to cost Rs12,099,000 but now costs Rs12,679,000 after an Rs580,000 price increase.

    Customers affected by the new pricing

    The new price will apply to all bookings placed after April 30, 2022. All orders placed before March 23 will be charged at the previous rate. All vehicles booked between March 23 and April 29, 2022, or before June 20, 2022, will be billed at the old rate. From March 23 to April 29, 2022, or before June 20, 2022, all DFS orders will be invoiced at the earlier rate.

  • Suzuki Pakistan increases bike prices by up to Rs15,000

    Suzuki Pakistan has announced a massive price increase for its entire motorcycle lineup, following Yamaha and Honda. The new prices are effective from Friday, April 1, 2022.

    The biggest price increase has been announced for the 150cc GR-150 variant, which is now priced at Rs330,000 after getting a massive hike of Rs15,000 in its previous cost of Rs315,000. Considering the size of its engine, this is unquestionably a significant and unjustified increase.

    Suzuki GS-150, one of the most prominent bike in Suzuki’s lineup witnessed a hike of Rs10,000 for both variants (GS-150 and GS-150SE). The base GS-150 costs Rs225,000 after the hike and the upper variant GS-150SE is now priced at Rs242,000, as compared to their earlier prices of Rs215,000 and Rs232,000.

    Moreover, the 110cc variant, Suzuki GD-110s which was previously sold at Rs199,000 will now be offered at Rs207,000, after getting a hike of Rs8,000.

    The motorcycle manufacturer raised the prices of its motorcycles four times in 2021, and this is the first price rise of 2022. Suzuki motorcycle prices were increased by up to Rs28,000 between January and December 2021.

    Read more: Honda Atlas to increase prices for all motorcycles from April 1

    Bike manufacturers’ pricing hikes have pushed two-wheelers out of reach for most of the country’s population. Despite the fact that the matter has been raised numerous times in the media, the government has yet to take a step in this regard and maintain pricing consistency.

  • After iPhones, car prices also increase as govt imposes new taxes

    After iPhones, car prices also increase as govt imposes new taxes

    The Sindh Excise and Taxation Department has issued a notification on Friday regarding the increase in the tax on vehicles with higher engine capacity.

    According to the notification, the tax on cars over 1,000cc has been increased to Rs100,000 from the existing Rs50,000. People who buy vehicles ranging between 1,001cc to 2,000cc will have to pay Rs200,000 tax compared to the existing Rs100,000 while those of 2,001cc and above will pay Rs400,000 in taxes.

    Some of the revised car prices, as per ARY News, are:

    Suzuki Alto VX price has been increased by Rs 32,000. Now it costs around 13 lac.

    Suzuki Alto VXL price has been increased by Rs 43,000. The current price stands around Rs17 lac.

    Suzuki Cultus VXR price has been increased by Rs126,000. The vehicle now costs about Rs20 lac.

    Suzuki Cultus VXL price has been increased by Rs139,000. The price has gone around Rs2,244,000 (22 lac, 40 thousand).

    Corolla Altis Grande X CVT 1.8 B price has been increased by Rs100,000. The new price is Rs4.2 million.

    The manual version of Corolla Altis X 1.6 price has been increased by Rs81,000. Its new price is Rs3.38 million.

    The price of Fortuner 2.7 G has been increased by Rs390,000. The SUV is now available at Rs8.56 million.

    The price of Fortuner Legender Diesel saw the highest increase of Rs493,000 (4 lac and 93 thousand). This vehicle will now cost around Rs10.84 million.

    The price of the Hyundai Elantra has seen an increase of Rs4lac. The vehicle now costs around Rs44 lac.

    Apart from cars, iPhones from abroad are now being subjected to 17% sales tax instead of a fixed sales tax.