Connect with us

Business

Honda issues ‘Do Not Drive’ warning for 8,200 US vehicles over air bag risks

Published

on

Honda issues 'Do Not Drive' warning for 8,200 US vehicles over air bag risks

 Honda Motor Co (7267.T) on Friday issued a “Do Not Drive” warning for 8,200 Acura and Honda vehicles with unrepaired Takata air bag inflators in the United States.

The urgent warning covers various 2001-2003 model year Honda Accord, Civic CR-V and Odyssey, Pilot and Acura 3.2CL and 3.2 TL vehicles with so-called “Alpha” inflators.

The National Highway Traffic Safety Administration (NHTSA) said owners of those vehicles should not drive them until they get repairs, warning “the risk to vehicle occupants is dire.”

More than 30 deaths worldwide – including at least 23 US fatalities – and hundreds of injuries in various automakers’ vehicles since 2009 are linked to Takata air bag inflators that can explode, unleashing potentially deadly metal shrapnel inside vehicles.

Advertisement

NHTSA said last month a February death of the driver of a 2002 Accord in Bowling Green, Kentucky, was due to a faulty air bag inflator. Honda has reported 17 US deaths and more than 200 injuries in the United States related to Takata inflator ruptures.

Over the last decade, more than 67 million Takata air bag inflators have been recalled in the United States by more than 20 automakers and more than 100 million inflators worldwide, in the biggest auto safety callback in history.

NHTSA says 8.5 million vehicles remained unrepaired, including 3.6 million General Motors (GM.N) vehicles and 1.2 million Honda vehicles.

“Don’t gamble with your life or the life of someone you love – schedule your free repair today before it’s too late,” said NHTSA Acting Administrator Ann Carlson.

Honda said on Friday it has attempted to reach owners more than 18.3 million times including mailed notifications, emails, phone calls and door-to-door visits. The Japanese automaker emphasized it is offering free towing and loaner vehicles for the free recall repair. Honda has to date replaced or accounted for more than 99% of the “Alpha” inflators.

Advertisement

Honda said “we’re concerned for the safety of those who have not responded and are now adopting the new Stop Driving messaging to spur them to act.”

In November, Chrysler parent Stellantis (STLA.MI) urged owners of 276,000 older U.S. vehicles to immediately stop driving after three crash deaths tied to faulty Takata air bag inflators were reported.

NHTSA said the Takata recalls were spurred by propellant that could break down after long-term exposure to high-temperature fluctuations and humidity.

Advertisement

Business

Nepra approves Rs3.28 per unit increase in power tariff

Published

on

By

Nepra approves Rs3.28 per unit increase in power tariff

The National Electric Power Regulatory Authority (Nepra) has approved Rs3.28 per unit increase in power tariff on the account of fuel cost adjustment for fourth quarter of fiscal year 2022-23.

The regulatory body has sent his decision to the federal government for final approval. The increase in electricity prices will come into effect immediately after it is approved by the government.

The distribution companies (Discos) would recover Rs159 billion from consumers during the period of six months (October 2023 to March 2024).

The revised rate will be applicable on all customers.

Advertisement

Continue Reading

Business

Inflation goes up as people feel effects of fuel price hikes

Published

on

By

Inflation goes up as people feel effects of fuel price hikes

Food and fuel prices continue fuelling inflation in Pakistan as the Sensitive Price Indicator (SPI) for the week ended September 21 witnessed a 0.93 per increase amid the complete government failure to check the rates.

Read more: Food prices owing to weaker rupee, supply shortages will push Pakistan inflation: ADB

The latest data released by the Pakistan Bureau of Statistics (PBS) shows that chicken price had jumped by 8.49pc followed by petrol 8.51pc, diesel 5.54pc garlic 5.19pc and onion 3.02pc.

At the same time, the year-on-year increase in SPI stood at 38.66pc when compared with the corresponding week of last year.

Advertisement

Read more: More food inflation as fuel price hikes increase production, transportation costs

The rising inflation in Pakistan urgently needs government intervention and a study of how different governments are dealing with the challenge. Tax on cut on food items is one of methods.

Read more: Fighting the food inflation: From net-zero VAT to supermarkets seeking price cuts

Earlier this week, the Asian Development Bank (ADB) had warned that average inflation in Pakistan will soar to 29.2 per cent caused by supply shortages, continued currency depreciation, import restrictions, and fiscal stimulus for post-pandemic recovery.

Meanwhile, the rising food prices shouldn’t be a surprise given that the regular fuel price hikes are increasing the production and transportation costs.

Advertisement

The main reason behind the persistent inflation in Pakistan is devaluation as the rupee had dropped to the record against the US dollar – a trend that is being reversed somewhat amid a crackdown on blacking marketers on hoarders.

However, the exchange rate is still too high, requiring further correction, as the people have also been hit hard for power and gas tariffs as the conditions set by the International Monetary Fund (IMF).
 

Continue Reading

Business

Power tariff hikes: The more you devalue rupee, the more capacity charges you pay

Published

on

By

Power tariff hikes: The more you devalue rupee, the more capacity charges you pay

Devaluation – a process that started under former finance minister Miftah Ismail in late 2017 and late 2018 but gained momentum under the PTI government – is the root cause of inflation shouldn’t be a contested statement as it has made imports even more expensive for Pakistan.

And that’s countries like Pakistan are the worst affected due the rising commodities prices in global market as weaker currencies mean the overall impact is much deeper for them than the rest.

Read more: Rupee collapse is the reason behind all ills Pakistan is facing

This argument was endorsed by none other a high-ranking government official – Power Division Secretary Rashid Langrial who said on Monday that the capacity [charges] payment had doubled after the dollar exchange rate increased from Rs100 to Rs300, thus resulting in skyrocketing electricity tariffs for consumers. 

Advertisement

Continue Reading

Trending

Copyright © GLOBAL TIMES PAKISTAN