Automobile industry: Govt opens doors for new entrants

Additional customs-duty collected shall not be charged on sub-components imported in any kit form by an assembler.

ISLAMABAD: The government announced incentives for new entrants in the automobile sector on Friday under the Auto Industry Development Programme (AIDP) to create a competitive environment in the industry.

The amended SRO issued by Federal Bureau of Revenue under which additional customs-duty is collected shall not be charged on sub-components imported in any kit form by an assembler or manufacturer declared to be a new entrant by the Engineering Development Board (EDB) for a period of three years, according to a statement issued by EDB.

Published in The Express Tribune, December 24^th, 2011.