FBR Has Not Imposed New Regulatory Duty On The Import Of Vehicles

Recently news regarding the FBR imposing duty on imported vehicles went viral in Pakistan. Top News Publications and Media houses gave the news that FBR has imposed UP to 60 percent regulatory duty on the import of vehicles. This news of regulatory duty  imposed on Imported vehicles created panic among the buyers and dealers  of imported vehicles, as no one was expecting new duty on the import of cars. PakWheels investigated this matter and finally came to the conclusion that there is no truth in the news about the increase in regulatory  duties imposed on imported vehicles.

FBR actually has just updated the annual gazette and it is a standard practice that the gazette is updated every year. A closer look in to the matter  and in depth analysis reveals that, there is no new regulatory duty imposed on the imported vehicles. FBR only has changed the rebate policy regarding the imported  vehicles that fall in the category of 2500 cc and above. As per the policy these vehicles falling in the category of 2500cc and above will not be given any rebate with effect  from 1st of July 2017. Other than this change, the policy regarding the import of vehicles remains the same and there is no change from the last year. It is in fact a good step on part of the Government to not impose any duty on the import of vehicles.

This step will definitely help in not only giving the options to consumers in Pakistan to import vehicles in reasonable prices but will also create healthy competition in the local market, as in the presence of imported vehicles local auto manufacturers have to come up with the better build quality of cars and also need to include more features to compete with the imported vehicles. PakWheels urge the media houses and news publications should take more constructive and responsible approach and always  cross check and verify the news before publishing or airing, as giving wrong information can sometimes leads to panic which eventually can influence the decision of the potential buyers and the dealers who import vehicles in bulk quantity.

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