CONFIRMED – Over 5,000 MG Cars Coming to Pakistan!!
You must have seen photos of MG cars stuck at Karachi port on social media. We have finally got a really good news for buyers of these vehicles. According to our sources, a court has ordered to release of these MG vehicles under Section 81.
So, what is Section 81? Let us tell you in very simple words. The section is about Dispute over the Valuation of a product between two parties, which, in this case, are Pakistan Customs and MG Motors Pakistan.
The Customs had stopped the cars over the valuation difference. In response, MG Motors Pakistan approached a court and got the orders for clearance of vehicles under Section 80. Meanwhile, the court has directed MG to submit a Pay Order as a guarantee. If Customs wins the case, it would cash the Pay Order; otherwise, MG would get those Pay Orders back.
What is Good for Customers?
The court verdict means that MG cars at Karachi Port would be released, and people who have booked these vehicles would get them soon, which is a great news for the buyers.
Furthermore, it means that the car company would pay the difference, and there would be no burden on buyers of these vehicles, meaning there is no liability on the consumers.
Earlier, we discussed a scenario that highlights the possibility under which the consumers would have to pay the difference. However, it seems it is not the case as the company have taken responsibility.
However, we would still advise the consumers to be careful. In many cases, the companies include such clauses at the end of delivery forms. And most of us don’t read the contracts/forms in detail. So, please read it carefully before signing these forms, look for the footnotes because it would save you from any possible hassle in the future.
2nd Great News – Over 5,000 MG Cars Coming to Pakistan:
It seems that there are only good news for MG Motors Pakistan on the horizon. As per our sources, three banks have issued Letter of Credit (LC) for 5,200 MG cars. The sources have claimed that Mezan Bank has issued LC for 2,600 vehicles, while Al-Habib and Alfalah Bank combined have given LC for 2,600 MG cars.
So, what is LC? In easy language, LC is a guarantee by the bank to the other party. So, in this case, these banks have guaranteed SAIC Motors in China that it would pay them for cars; hence, they can send these units to Pakistan. Thus, vehicles are coming to Pakistan very soon.
The sources have further added that JSW Group has paid in the cash to these banks for LCs, making sure that new MG units would arrive in Pakistan.
A lot of people were worried about the delivery of MG cars as it was facing delays. However, these updates show that MG is here to stay, which indeed is great news.
