KARACHI: After massive rupee devaluation, some Chinese assemblers have increased the prices of rickshaw loaders and motorcycles by Rs15,000 and Rs1,000, respectively.
While others are planning to raise bike prices (70-150cc) by Rs3,000-7,000 shortly.
These assemblers have informed their authorised dealers that the cost of imported raw materials like steel, rubber and plastic parts have risen following the local currency depreciation. United Auto Industries raised its loader rates by Rs15,000 from Oct 16 onwards but the company said prior to that, customers can purchase loaders at old rates after paying 100 per cent advance payment.
Road Prince soared prices of loader rickshaw 150cc by Rs10,000, Rs15,000 in rickshaw loader (200cc) on Oct 10. The company has also increased the price of 70-125cc bikes by Rs1,000.
Razzy Motor Industries, the maker of hi-speed bikes, has informed its dealers regarding the possibility of price increase in 70cc-150cc bikes any time by Rs3,000-7,000. The company said the prices would be revised upward to offset the rising cost of production on account of falling rupee. However, the company has already increased the price of hi-speed loader by Rs10,000 from Oct 10.
Association of Pakistan Motorcycle Assemblers Chairman Mohammad Sabir Sheikh urged the government to reduce general sales tax to 10 per cent from 17pc in order to provide relief to the masses.
Published in Dawn, October 12th, 2018