Share Data or Face NAB, PAC Slammed Automakers

Public Accounts Committee has again taken stern action against the flourishing car prices. PAC displayed deep displeasure at the frivolous attitude of car company CEOs. The committee directed the car makers to share their sales charts and corresponding figures; otherwise, get ready to face NAB.

Noor Alam Khan, Chairman, Public Accounts Committee, expressed strong displeasure over the absence of company heads. He instructed the ministry of industries and production to ensure their attendance at the upcoming meeting. 

He stated that MoIP ought to intervene in the car price hikes. Moreover, addressing the prime minister (PM) over the issue, PAC demanded to reopen the car imports. Lifting the ban on car imports will avert the monopoly of the automakers in the country. 

The audit officials have disclosed that 11 car companies have not yet submitted the data to the Auditor General of Pakistan (AGP). The committee has asked the car companies to submit their data to the authority; otherwise, their defiance will be brought to the notice of the National Accountability Bureau (NAB).

Production Crisis

Where the PAC is slamming the automakers for their non-seriousness and noncompliance, the car companies are announcing production cuts, and the reason behind the slump is aggravating inflation and import curbs.

The recent mechanism of requiring CKD import clearance, introduced by the State Bank of Pakistan (SBP), has urged the automakers to announce production cuts. Pak Suzuki, Toyota Pakistan, Honda Atlas Pakistan, and Hyundai Nishat have left with no option but to observe production cuts.

Granted that the incumbent government is trying hard to overcome the prevailing challenges, the recent economic repulsions led to import blockades have further worsened the situation.

What do you think about the concerns expressed by the Public Accounts Committee and import curbs? Share your thoughts in the comment section.