Overseas Pakistanis can send cars to relatives under gift scheme
ISLAMABAD, Aug 09 : Overseas Pakistanis can now send cars to their blood relatives under the gift scheme announced in the new trade policy 2005-06, said Federal Minister for Industries and Production Jehangir Khan Tareen.
Earlier, only family members were eligible under the gift scheme, the Minister said while speaking in PTV programme “Business Edition.”
He said a number of incentives have been given to facilitate overseas Pakistanis and more steps are being taken to remove procedural bottlenecks in this connection.
To a question he said production capacity of automobile industry is being enhanced to maintain balance in demand and supply. He clarified that there was no ban on import of new vehicles.
He said three to four years back about 40,000 vehicles were being produced annually in the country, while 150,000 vehicles would be manufactured during the current fiscal year.
The Minister said the government has fixed the production target of 200,000 vehicles for the next financial year and target of 500,000 vehicles has been set for next five to seven years.
Commenting on the increasing demand of vehicles, Jehangir Khan Tareen said consumer lending was Rs. four billion in 2002, which increased to Rs. 22 billion in 2003 and Rs. 50 billion in 2004, while this year it is expected to stand at Rs. 80 billion.
He said government is making outmost efforts to meeting the growing demand of vehicles in collaboration with the manufacturing industry.
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