Business

Top four budget-friendly electric vehicles to look for in 2024

Published

1 year ago

Farwa

As the electric vehicle market expands, car enthusiasts on a budget can now explore a range of affordable options in 2024.

Here are the top four cost-effective electric vehicles (EVs) that promise both sustainability and economic value:

1. Nissan Leaf (starting at $28,140)

Nissan Leaf (starting at $28,140).—Treehugger

The veteran Nissan Leaf, introduced in 2010, remains a compelling choice with a wallet-friendly starting price. Despite its long tenure in the EV world, the Leaf retains its charm and practicality. For safety-conscious buyers, it boasts a 5-star overall safety rating from the National Highway Traffic Safety Administration (NHTSA).

2. MINI Cooper SE Electric (starting at $30,900)

The MINI Cooper SE Electric preserves the iconic design of its gas-powered counterpart, delivering a unique electric driving experience. With a swift 0-60 mph acceleration in under seven seconds and favorable ownership ratings, it stands out as an affordable and stylish option.

3. Hyundai Kona Electric (starting at $32,675)

The revamped 2024 Hyundai Kona Electric showcases a captivating design and improved features. The base SE model offers a commendable 200-mile range, while higher trims extend that to an impressive 261 miles. Hyundai’s standard 10-year/100,000-mile powertrain warranty adds an extra layer of confidence for potential buyers.

4. Chevrolet Equinox 1LT (starting at $34,995)

Positioned as GM’s affordable EV, the Chevrolet Equinox 1LT enters the market as a worthy successor to the discontinued Chevrolet Bolt. Expected to hit showrooms in mid-2024, this model boasts an estimated 319-mile range on a full charge and accelerates from 0-60 mph in just 5.9 seconds. Its competitive pricing and performance make it a compelling option.

Important consideration for EV buyers

While these EVs offer affordability in terms of purchase price, prospective buyers should be mindful of insurance costs. Electric vehicles often come with higher insurance premiums due to longer repair times and the expense of battery packs.

To optimise insurance expenses, it’s advisable to compare policies and explore bundling options with renters or homeowners insurance for potential premium reductions.

Business

The total amount of Pakistan’s liquid foreign reserves is $15.95 billion.

Published

2 days ago

Farwa

As of February 14, Pakistan’s total liquid foreign reserves were $15,947.9 million, with the State Bank of Pakistan’s (SBP) holdings being $11,201.5 million.

Official figures for the week ending February 14, 2025, show that the central bank’s liquid foreign exchange reserves rose by $35 million to $11,201.5 million.

Commercial banks maintained net foreign reserves of $4,746.4 million during the period under review, according to the breakdown of foreign reserves.

The nation’s total liquid foreign reserves as of the week ending February 07, 2025, were $15,862.6 million.

Of these, the central bank held $11,166.6 million in foreign reserves, while commercial banks kept $4,696 million in net reserves.

Business

In January 2025, RDA inflows reach 9.564 billion USD.

Published

2 weeks ago

Farwa

Remittances under the Roshan Digital Account (RDA) increased from US $9.342 billion at the end of 2024 to US $9.564 billion by the end of January 2025.

The most recent data issued by the State Bank of Pakistan (SBP) revealed that remittance inflows in January totaled US$222 million, compared to US$203 million in December and US$186 million in November 2024.

Millions of Non-Resident Pakistanis (NRPs), including those who own a Non-Resident Pakistan Origin Card (POC), desire to engage in banking, payment, and investing activities in Pakistan using these accounts, which offer cutting-edge banking options.

Nearly 778,697 accounts were registered under the scheme by the end of January 2025, according to the data.

By the end of January, foreign-born Pakistanis had contributed US $59 million to Roshan Equity Investment, US $479 million to Naya Pakistan Certificates, and US $799 to Naya Pakistan Islamic Certificates.

Business

FBR lowers Karachi’s built-up structure property valuation rates

Published

2 weeks ago

Farwa

A year-by-year breakdown of the depreciation value of residential and commercial built-up properties is included in the updated property valuation rates for Karachi that the FBR has announced.

The notification said that built-up structural values on residential property will be gradually reduced.

A residential home’s built-up structure, which is five to ten years old, will lose five percent of its worth.

In a similar vein, constructions between the ages of 10 and 15 will lose 7.5% of their value, while those between the ages of 15 and 25 would lose 10%. Built-up structures that are more than 25 years old will be valued similarly to an open plot.

Furthermore, age will also be used to lower the valuation of built-up properties, such as apartments and flats.

Structures that are five to ten years old will depreciate by ten percent, while those that are ten to twenty years old will depreciate by twenty percent. A 30% depreciation will be applied to properties that are 20 to 30 years old, while a 50% reduction will be applied to those that are above 30 years old.

In terms of commercial built-up properties, buildings that are 10 to 15 years old will lose 5% of their value, while those that are 15 to 25 years old will lose 8%. The value of properties that are more than 25 years old will drop by 10%.

In contrast, there would be a 15% boost in the value of commercial properties in the Defence Housing Authority (DHA) that face any Khayaban.