ISLAMABAD: The automobile manufactures on Thursday told the subcommittee of the Public Accounts Committee (PAC) that the import of reconditioned vehicles was a cancer for the automotive industry.
The PAC subcommittee held a meeting under the chairmanship of Commerce Secretary Hamid Yar Hiraj to discuss and prepare a policy for reduction of prices. Hiraj said that the auto manufactures earned a premium on every new vehicle, which was totally illegal and unjustified.
The committee also criticised that in the past the policies were prepared for individuals not for the nation, an unfortunate situation. The committee directed the Ministry of Commerce to prepare recommendations for a new automobile policy, which should be acceptable to every stakeholder, within 15 days.
The secretary told the committee that the duty structure for the new vehicles should be revised because the customs tax regime on imported reconditioned vehicles was affordable for consumers rather than the policy on new imports.
Published in The Express Tribune, August 24th, 2012.
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The country’s largest automobile assembler profits grew by 392% to Rs1.37 billion in the first six months of 2012 against Rs279 million reported in the same period last year, according to a notice sent to the Karachi Stock Exchange on Friday.
http://tribune.com.pk/story/425792/corporate-results-suzuki-profits-speed-up-five-times/
I read an article yesterday that said that Pakistan has the cheapest Corolla in the region!!! Whatttt...
Open the market for all of the imported cars, do not have protectionist policy, if not Pakistan will end up having a nation who will always relay on handout, as they say Trade NOT Aid,
Also remember other countries can also impose same policy on the Pakistanis goods and the ordinary people will suffer?
They just want profits without the commitment to make their products as much locally as possible. Its a lot of effort to indegenize and they dont want to put the hard yards, just easy profits.
As a matter of fact: local cars a cancer for consumer. Just look at what they offer for their ripoff oligopolist prices.