Following an increase in the general sales tax (GST), United Auto Industries on Thursday notified an increase in the prices of its 15 motorcycle models.
The two-wheeler manufacturer cited an increase in sales tax, rupee-dollar parity, and rising crude oil prices behind an increase in the production cost of these motorcycles.
The company said that due to the aforementioned reasons, the price of its models has been jacked up to Rs11,000 and came into effect immediately from today (February 16).
During the Finance (Supplementary) Bill 2023, which was tabled by Finance Minister Ishaq Dar, a day earlier at the National Assembly it was announced that the GST had been increased to 18%.
The company raised the price of its models according:
- Rs9,000 — all 70cc models
- Rs9,000 — all 100cc front portion models
- Rs10,000 — all 100cc models
- Rs11,000 — all 125cc models
Following are the new retail selling price (ex-factory):
Amid the ongoing economic crisis, Pakistan’s automobile sector has been hit hard owing to problems with the opening of letters of credit, arising due to the rapidly depleting foreign exchange reserves and a weakening rupee.