On Thursday, Chairman All Pakistan Car Dealers and Importers Association, Mian Shoaib, met with Provincial Minister for Industries, Commerce, and Energy S.M. Tanvir at Punjab Small Industries Corporation (PSIC) to discuss the association’s issues.
Excise and Taxation Minister, Bilal Afzal, was also present at the meeting. The guests requested that Punjab adopt Islamabad’s biometric model due to showroom closures.
They said that Punjab’s current biometric system hurts businesses and revenue. The delegation also voiced concerns about the showroom trade certificate closure.
Tanvir assured the guests that the caretaker government would resolve their legitimate issues and provide all businessmen with facilities. He reaffirmed the government’s commitment to commercial and economic activities and said traders’ issues were being prioritized.
Regulatory Duty Reduction
Syed Naveed Qamar, the federal minister for commerce, issued a stern warning to auto dealers on Thursday if the prices of imported vehicles are not reduced following the elimination of regulatory duty.
The minister told the media in Islamabad that the additional regulatory duty on luxury goods expired on March 31 and urged car dealers to lower the prices of imported vehicles.
After the staff-level agreement, restrictions on the opening of letters of credit (LCs) will be lifted, Qamar stated, adding that with the reopening of LCs, export-oriented industries will have easy access to raw materials.
Source: Pro Pakistani