All Pakistan Motor Dealers Association (APMDA) has asked the Prime Minister of Pakistan, Imran Khan, to review the current used car import policy.
As per the letter forwarded to PM, Chairman APMDA HM Shahzad has asserted that the previous governments made a mess of import of used cars by only focusing on one segment of the local auto industry, local assemblers. HM Shahzad urged the PM to amend the current used car import policy so that more choices are available to the people when buying affordable used cars.
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APMDA has asked the government to review the policy if it needs a real auto industry in the country. Moreover, the letter also asked if the government intends to do something about the local assemblers who are making huge profits and are taking (a huge chunk) them back to Japan.
Furthermore, it was also pointed out that due to lack of real competition, the existing Japanese automakers are getting what they want, hiking the prices of their vehicles after an equal interval of time, while offering very little to the consumers.
SRO 52(1)/2019 has further diminished the competition which used cars were giving to the local assemblers, so it should be reviewed by the government, the chairman commented. He also pointed out that the used car market is generating 100 billion rupees in revenues.
Chairman APMDA HM Shahzad has asked PM to meet him in this regard and hear the plea of used car importers.
What is SRO 52(1)/2019?
“All vehicles in new/used condition to be imported under transfer of residence, personal baggage or under gift scheme, the duty and taxes shall be paid out of foreign exchange arranged by Pakistan Nationals themselves or local recipient supported by bank encashment certificates showing the conversion of foreign remittance to local currency, as under,
- The remittance for payment of duties and taxes shall originate from the Pakistani national sending the vehicle from abroad, and
- The remittance shall either be received in the account of the Pakistani national sending the vehicle from abroad or, in case, his account is nonexistent, inoperative, in the account of his Family”. Read the complete SRO below:
Government to ensure strict compliance of SRO 52(1)/2019
That’s it from our side, drop your thoughts in the comments section below.
