Karachi June 18 2021: Auto loans make another high as loans to Auto sector has reached PKR297 billion on May 2021, up by 40.9 percent in comparison to year earlier.
Significant increase in Auto Financing is on the back of cheaper credit availability as SBP has kept discount rate unchanged for last 12 months and robust economic recovery
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Mutual Funds performance to be shown on a minimum of 12 months says SECP
The effect of the same has been witnessed in the Auto Sales which posted significant recovery of 65 percent during 11 month of fiscal year 2021. Overall, Auto sales were recorded at 167,392 units in first 11 months of fiscal year 2021 compared to 101,507 units during the same period last year.
Auto sales will increase further in the future due to budgetary incentives for 850cc below segment such as reduction in Sales tax to 12 percent from 17 percent and abolishment of Federal Excise Duty of 2.5 percent.
