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 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.
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)
|UK Pound Sterling||GBP||311||314|
|Hong Kong Dollar||HKD||29.52||29.87|
|New Zealand Dollar||NZD||148.33||149.53|
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.
|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|