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PM Imran opens Pakistan's first commercial vehicle assembly plant

Nozair Hanif Mirza 07:32 PM | 30 Nov, 2018
PM Imran opens Pakistan's first commercial vehicle assembly plant
ISLAMABAD – Prime Minister Imran Khan on Friday inaugurated the JW Forland Auto Park vehicle assembly plant, in a major push to the country's automobile industry.

Pakistan's JW SEZ Group, in a joint venture (JV) with China's Changsha Foton Vehicle Technology, has officially launched its production line to make cargo trucks and special purpose vehicles in Pakistan.

JW Forland is the first Pakistani company to produce commercial vehicles in the country.

PM Imran said, “For the first time in Pakistan’s history, a complete car manufacturing plant was being set up and this would create 5,000 jobs which would increase to 35,000 in the future.”

The premier also announced to set up technical schools, where technicians will be able to acquire skills. “We will produce cars which can eventually be exported,” Khan added.

The $150 million project has been launched with the ultimate goal to make Pakistan a regional hub for manufacturing auto parts and automobiles, according to Finance Minister Asad Umar.

The initial $150m investment has been made at a ratio of 50/50 by both partners and the plant is located in Lahore over 50-acre land while the current plant capacity is 30,000 units.

The Phase-I of the automobile plant includes the production light and medium commercial cargo and dump trucks, minivans, and SUVs.

The company also plans to invest $300 million within the auto sector to enhance the production capacity to 100,000 units per year and increase product range by start assembling buses, heavy trucks, and energy vehicles in coming years.

Earlier this week, Suzuki Motor Corporation had announced to invest $450 million in Pakistan for setting up a second production plant in Karachi.

Nozair Hanif Mirza
Nozair Hanif Mirza

The writer is a member of the staff. He can be accessed on Twitter @iamnozair

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KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on January 26, 2023 (Thursday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 253.4 255.15
Euro EUR 274 276.6
UK Pound Sterling GBP 311 314
U.A.E Dirham AED 68.7 69.3
Saudi Riyal SAR 66.4 67
Australian Dollar AUD 176 178
Bahrain Dinar BHD 615.68 620.18
Canadian Dollar CAD 186 188
China Yuan CNY 34.12 34.37
Danish Krone DKK 33.83 34.18
Hong Kong Dollar HKD 29.52 29.87
Indian Rupee INR 2.81 2.89
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 756.69 761.69
Malaysian Ringgit MYR 52.59 53.04
New Zealand Dollar NZD 148.33 149.53
Norwegians Krone NOK 22.43 22.73
Omani Riyal OMR 600.37 604.87
Qatari Riyal ‎QAR 63.5 64
Singapore Dollar SGD 178 179.3
Swedish Korona SEK 21.78 22.08
Swiss Franc CHF 250.23 251.98
Thai Bhat THB 6.98 7.08

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs190,900 on Thursday. The price of 10 grams of 24k gold was recorded at Rs163,670.

Likewise, 10 grams of 22k gold were being traded for Rs150,300 while a single tola of 22-karat gold was being sold at Rs 173,200.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 190,900 PKR 2,100
Karachi PKR 190,900 PKR 2,100
Islamabad PKR 190,900 PKR 2,100
Peshawar PKR 190,900 PKR 2,100
Quetta PKR 190,900 PKR 2,100
Sialkot PKR 190,900 PKR 2,100
Attock PKR 190,900 PKR 2,100
Gujranwala PKR 190,900 PKR 2,100
Jehlum PKR 190,900 PKR 2,100
Multan PKR 190,900 PKR 2,100
Bahawalpur PKR 190,900 PKR 2,100
Gujrat PKR 190,900 PKR 2,100
Nawabshah PKR 190,900 PKR 2,100
Chakwal PKR 190,900 PKR 2,100
Hyderabad PKR 190,900 PKR 2,100
Nowshehra PKR 190,900 PKR 2,100
Sargodha PKR 190,900 PKR 2,100
Faisalabad PKR 190,900 PKR 2,100
Mirpur PKR 190,900 PKR 2,100

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