Less than 1800cc imported vehicle prices likely down due end of regulatory duty: HM Shehzad

ISLAMABAD (APP): Chairman Pakistan Motors Dealer Association, Haji Muhammad Shehzad on Thursday said that the government’s decision to remain free of regulatory duty on imported vehicles will make a significant difference to the prices of less than 1800 cc foreign-made vehicles.
Through a private news channel, he appreciated the government’s decision and expressed hope that if this decision is implemented soon, there will be a significant reduction in vehicle prices in the upcoming months despite 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 sell only sell 10,000 vehicles this year.
He suggested that if Pakistan manufactures vehicles instead of importing them, besides controlling prices, we can collect revenue of one to one and a half billion dollars annually.
He further said that according to an MoU signed in the eighties, Pakistan was supposed to bring transport technology to Pakistan within five years and to manufacture the vehicles itself, but unfortunately, it could not be implemented till date.
Apart from this, he made another suggestion that if the three-year-old requirement for used imported vehicles is increased to five or seven years. There will be a clear reduction in their prices, which will have a positive impact on the industry.