Alto 660cc VX model, also called the city car, now is not in reach in most of the city dwellers. The price of the car has increased Rs63,000 to Rs1.198 million from July 7, as Pak Suzuki Motor Company Limited (PSMCL) announced a new price list.

          PSMC has already increased the price of two-wheelers in the wake of July i.e. 1^st July, which is about Rs3,000-6,000. The new prices of GD110S, GS150, GSX150SF are RS175,000, Rs185,000, Rs202,000, Rs279,000 and Rs579,000 respectively.

          Whereas, the company did not mention any particular reason for the price hike in the letter sent to authorized dealers. Although, those who have already booked the model with full payment, will not have to pay the upward price difference.

          The news of the rise in the price of PSMC’s product also awakes the other industries of vehicles, such as N.J. Auto Industries, assembler of the Super Power 70-250cc bike models has also revised their already raised prices and made it Rs1,200-2500 which was Rs1,000-2,000 according to the report of 1^st July. Assemblers of Unique bikes raised the prices of 70-100cc models by Rs1,200-2,200 effective from 10^th July. Moreover, the Chinese and the Japanese are not far behind and also announced their new price hikes in the range of Rs500-20,000 on July 1^st.           The reason which has been given behind the price hikesis rupee’s depreciation against the dollar, and increase the demand of rupees to import the parts of vehicles.

The State Bank of Pakistan (SBP) has expanded the scope of the Refinance Facility to Combat Covid-19 (RFCC) to the manufacturing sector producing medical equipment and accessories. Earlier, the facility was limited to the expansion and establishment of hospitals.
“The scheme now allows manufacturers of protective gears and equipment, including items such as masks, dresses, testing kits, hospital beds, ventilators etc. to avail financing under RFCC,” said the bank.
It said the decision was taken in view of the encouraging response for the facility and the potential to help the development of health facilities in the country.
The SBP on Mar 17 introduced the RFCC to support hospitals and health sector fighting against the Covid-19.
Under the scheme, banks will give out concessional loans at a maximum end-user rate of three percent for five years to hospitals and medical centers to purchase medical equipment and set up isolation wards to fight against Covid-19.
As of July 2, Rs6.4 billion of concessional credit has been approved to hospitals and other eligible facilities.
Moreover, to cope with the rising needs for health facilities in general in the country, SBP has allowed hospitals serving patients even other than Covid-19 to avail this facility.
The refinance facility will be available for setting up or expansion of the existing hospitals fulfilling minimum specified standards. For setting up new hospitals under this scheme, payments will be released by the banks on completing relevant milestones.
The RFCC is a highly subsidized facility through which the SBP provides refinance to banks at 0 percent whereas banks can keep a maximum margin of 3pc.

The Balochistan government has decided to set up a new system of monitoring development schemes under the Public Sector Development Programme (PSDP).
A moot presided over by Chief Minister Jam Kamal Khan agreed to hold review meetings on the implementation of all development projects every quarter.
The meeting also decided to prepare a checklist and Terms of Reference for the implementation of the schemes.
In order to ensure best utilisation of the allocated funds, the meeting also approved an authorisation policy for projects’ funds.
According to the new policy, the departments will now be required to also submit a concept paper for new development schemes for the next financial year.
The meeting decided to form a technical committee, headed by the chief secretary, to review the progress of frozen schemes.
The meeting was informed that 1437 development schemes had been completed last year and Rs60 billion spent on them and 2568 development projects had been included in the development program for the financial year 2020-21.
Of all these projects, 934 schemes are new and 1434 are ongoing projects.
The chief minister directed officials concerned to ensure timely completion of all ongoing development projects.

Prime Minister Imran Khan has constituted the National Coordination Committee on Housing, Construction, and Development.
The objective of the committee is to coordinate and facilitate government policy of promoting construction and development related activities, especially affordable housing projects for the low-income segment of society as envisioned in the Naya Housing Program.
Chairman Naya Pakistan Housing Development Authority will be the convener of the committee.
Terms of Reference (ToRs) of the committee say the body will assess the demand and supply situation of housing in general and affordable housing in particular.
The Convener shall brief the Prime Minister twice a week on impediments, recommendations for improvement and overall progress on implementation of Prime Minister’s policy guidelines.

Pakistan Cables has pledged to support corona virus relief efforts to help flatten the curve.
The commitment includes a donation of Rs. 2 million towards corona virus relief efforts led by Karachi Relief Trust (KRT). KRT is distributing food ration to families, in Karachi and parts of Sindh, whose livelihoods are being impacted by the pandemic. The Company is investing in a digital public awareness campaign. Through digital messaging, the company logo has been expressing solidarity with the nation by supporting the message that social distancing, to whatever extent possible, is a critical precaution. The Company in its message has also paid tribute to the frontline heroes, combating the corona virus head-on. Fahd K. Chinoy, Chief Executive Officer, Pakistan Cables Limited said, “This is the time for the business community to respond with a higher sense of duty and collaborate with welfare organizations and the government. Since our inception in 1955, we have witnessed varied crises in the nation’s history. Today we stand ever committed to ensuring that we promote prevention and safety for everyone.”