Federation of Pakistan Chambers of Commerce and Industry urges upon minister to increase age limit of used cars
Karachi, January 05, 2013 (PPI-OT): Haji Fazal Kadir Khan Sherani, President Federation of Pakistan Chamber of Commerce and Industry (FPCCI) and Mr. Zakaria Usman, Chairman of FPCCI Standing Committee on Coordination with FBR, endorsing the views as expressed by the members of the Senate Standing Committee on Foreign Trade, have urged the Federal Minister of Commerce to extend the age limit of used cars from 3 to 5 years for import in Pakistan.
They argued that the government, instead of penalizing the car manufacturers for non completion of the deletion program as per schedule, is providing them unnecessary protection by reducing the age limit of imported used cars.
They elaborated that the reduction of age limit from 5 year to 3 years has slashed down sharply the pace of imports of used cars mainly due to increase in their prices by Rs. 60,000 to Rs. 260,000 on model from 600cc to 1800 cc respectively.
They apprehended that the decision is taken to provide undue benefit to the local car manufacturing industry and disclosed that the own money taken by the indigenous car manufacturers from their clients for a long period in the name of advance booking had been increased by Rs. 1 lac to Rs. 2 lac, due to which an increase of Rs. 70,000 has been witnessed in the price of small cars. They added that the decision would affect the public in general and the business community in particular, thus depriving them of their right of buying car at affordable and reasonable prices.
For more information, contact:
Syed Masood Alam Rizvi
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Tel: 0092-21-35873691, 93-94
Fax: +9221 3587 4332