Car sales in the initial four months of the current fiscal year 2023-24 have witnessed a sharp decline of 47.4%, as per recent data from the Pakistan Automobile Manufacturing Association (PAMA).
The figures indicate a sale of 20,871 cars during this period, a substantial drop from the 39,700 units sold in the corresponding months last year.
Notably, sales of Honda Civic and City plummeted from 6,416 units to 2,239 units, while Toyota Corolla and Yaris experienced a 51% decrease, falling from 8,253 units to 4,032 units.
The Suzuki Swift experienced a significant sales decrease of 55%, dropping from 3,466 units to 1,576 units this year. Similarly, Suzuki Cultus sales declined to 1,142 units compared to 2,952 units in the same period last year.
Sales of Suzuki WagonR also decreased from 2,181 units to 1,160 units. Suzuki Alto witnessed a notable 30% decline, falling from 13,464 units to 9,362 units in the current year.
Additionally, Suzuki Bolan sales decreased to 684 units, down from 1,469 units in the corresponding month last year.
Caretaker Government Postpones Sugar Export, Seeks Transparency In Stock Details
Meanwhile, the decision to export 250,000 metric tons of sugar has been postponed by the caretaker government. Caretaker Industries and Production Minister Dr. Gohar Ijaz chaired a meeting of the Sugar Advisory Board (SAB) to discuss the Pakistan Sugar Mills Association’s (PSMA) request to export excess sugar.
Sugar mill owners, during the meeting, requested permission to export 250,000 metric tons of surplus sugar.
The advisory board, deferring the decision until Thursday, instructed sugar mill owners to provide details of their sugar stock by the next meeting. The PSMA claimed to have 1.13 million metric tons of sugar in stock, exceeding the country’s annual requirement of approximately 0.7 million metric tons.
It is noteworthy that sugar exports in FY23 amounted to 215,751 tonnes, generating $104 million, compared to no exports in FY22. Exports in the July-September quarter of 2023-24 were 35,102 tonnes, earning $21 million, as opposed to zero exports in the corresponding quarter of FY23.
