Daily Times

Chairman Pakistan Motors Dealer Association Haji Muhammad Shehzad said on Saturday that the abolition regulatory duty on imported vehicles would make a significant difference to the prices. Through a private news channel, he appreciated the government’s decision and expressed the hope that if this decision was implemented soon, there would be a significant reduction in vehicle prices in the upcoming months despite of the increase in the dollar rate. “The imposition of regulatory duty last year had made vehicles more expensive, which had a negative impact on sales and purchases”, he added. He said that due to the increase in the prices of cars, people had stopped buying cars, which caused the industry to lose billions of dollars. Giving an example, he said that the Honda company, which used to sell 50,000 vehicles a year, could only sell 10,000 vehicles this year. He suggested that if Pakistan manufactured vehicles instead of importing them, besides controlling prices, we could collect revenue of one to one and a half billion dollars annually.