ISLAMABAD: The manufacturing of motorcycles witnessed a decrease of 10.01 percent throughout the primary eight months of the modern-day financial year compared to the corresponding duration of the last yr. As many as 1,671,346 motorcycles have been synthetic during July-February (2018-19). Manufacturing 1,857,210 units throughout July-February (2017-18), in step with the Pakistan Bureau of Statistics (PBS). The manufacturing of motors and jeeps at some stage in the period under evaluation witnessed a 1.28 percent boom as 156,720 jeeps and automobiles were manufactured during the contemporary year compared to 154.732 devices closing year.
The production of mild industrial automobiles (LCVs) witnessed a lower 12.78 percent in manufacturing during the length below review with the aid of taking place from 19,907 gadgets ultimate 12 months to 17,363 LCVs at some point in 2018-19. The manufacturing of vans also decreased from 6,081 devices remaining yr to four 679 gadgets, showing a decline of 23.06 percent, while tractors’ manufacturing fell by 30.05 rates, from four 5576 units to 31,879 units. During the duration beneath evaluation, the manufacturing of buses witnessed fantastic growth of 23—sixty-one percent goi, ng up from 487 gadgets to 602 units.
Meanwhile, on a year-on-yr foundation, bikes’ production reduced by 14.80 percent for February 2019 compared to February 2018. The motorcycle production throughout February 2019 changed to 185,588 devices compared to 217,838 machines in February 2018. The manufacturing of jeeps and vehicles decreased by 1.98 percent, from 18,573 gadgets in February 2018 to 18,206 devices in February 2019. The manufacturing of tractors also witnessed a terrible boom of 35.27 percent by way of declining from 6,543 machines in February 2018 to 4,235 gadgets in February 2019; the manufacturing of trucks decreased by using 39.69 percent from the output of 703 gadgets to 424 units in February 2019 while the manufacturing of buses reduced by using 50 percentage from fifty-two devices to 26 gadgets.
It is pertinent to say that the Large Scale Manufacturing Industries (LSMI) production has declined. Seventy-two percent during the first eight months of the contemporary financial 12 months compared to last year’s corresponding duration. LSMI Quantum Index Number (QIM) becomes recorded at 143.25 factors for July-February (2018-19) against a hundred forty-five. Seventy-six factors at some point in July-February (2017-18), showing negative growth of one. Seventy-two percent, in line with the present-day data released through the Pakistan Bureau of Statistics (PBS) on Friday. The highest decrease of 1. Sixty-three percent became witnessed inside the indices monitored using the Ministry of Industries, followed by a 0.34 percent bad increase in the products observed using the Oil Companies Advisory Committee (OCAC). However, the Provincial Board of Statistics’ indices observed high-quality growth of 0.25 percent.
On a yr-on-12 months basis, the economic boom additionally decreased by 1. Forty-nine percent in February 2019 compared to the same month of last year, in which the commercial increase witnessed a lower month-on-month basis five. The PBS records discovered eleven percent in February 2019 compared to the boom in January 2018. In most cases, not exactly, if you look into the details of your purchased motorcycle insurance policy. The reason is that most full-coverage motorcycle insurance policies will cover total loss such as theft, accident, or natural disaster. Still, these policies typically only cover the depreciated market value of the motorcycle, not the outstanding value of your motorcycle loan.
Therefore, if you opted for a zero down payment motorcycle loan or a low-payment credit card motorcycle loan, your Suzuki GSX-R1000 may have depreciated faster than you have paid down the value on your motorcycle loan. Since your motorcycle insurance policy will most likely only cover the depreciated market value of your Suzuki GSX-R1000, you are responsible for the difference in the value the insurance company pays you for your stolen or totaled motorcycle and what you owe on your motorcycle loan.
