To or Not to: Rs0.1 Million Tax that can Curb the Menace of Premium in Pakistan

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IMC’ CEO, Mr. Ali Asghar Jamali in a recently surfaced interview suggested that the government should levy a duty of Rs. 100,000 per vehicle from the owners who book new cars and sell them within the first six months from vehicle’ date of purchase. As per Mr. Jamali, this move will help to curb any artificial shortage of cars in the local market.

He remarked ‘If the government places an additional duty of Rs. 100,000 per vehicle for those owners who buy new automobiles and sell them within six months, then there will be no shortage in the market.’ Jamali elaborated that the future of Pakistan’ auto industry looks bright and promising as he is hopeful that the country will produce up to 500,000 cars per year by 2022.

Currently, Pakistan imports 40,000 JDM’ each year, which stacks up 15% of the total sales out of 283,000 units being sold in the country. Considering the upcoming number of car launches, experts are predicting that local market is about to receive a massive influx of new cars, which will weaken the JDM car import culture in Pakistan.

 

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