Used car imports: FBR urged to revise decision on depreciation limit

FPCCI’s Working Group on Budget have urged FBI to withdraw decision of reducing the depreciation limit to four years.

KARACHI:

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Haji Fazal Kadir Khan Sherani and Chairman Zakaria Usman of FPCCI’s Working Group on Budget have urged Ali Arshad Hakeem, chairman of the Federal Board of Revenue (FBR) to withdraw the decision of reducing the depreciation limit to four years and allow the imports of five-year old used car as per past practice.

They criticised the FBR for taking the decision unilaterally in haste without prior consultation with the business community or the concerned motor dealers and giving sufficient time for adjustment to the policy.

They proposed that the decision be kept in abeyance for at least three months so that the concerned dealers’ associations are taken into confidence on the issue.

Published in The Express Tribune, September 5^th, 2012.