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Old Friday, January 18, 2019
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Default Motor Dealers Association demands to allow commercial import of cars

KARACHI: All Pakistan Motor Dealers Association (APMDA) has demanded of the government to allow commercial import of cars, as it is already allowed for the Japanese automobile assembler.

In a letter send to Prime Minister Secretariat in Islamabad, H.M Shahzad Chairman All Pakistan Motor Dealers Association (APMDA) said SRO No. 52 (1)/2019 was issued by the Commerce Division without taking all stakeholders into confidence and it would have more negative repercussions on national exchequer instead of any increase in revenues for the government.

Commerce Division of Government of Pakistan vide SRO No. 52 (1)/2019 has made am amendment in Import Policy Order whereby it has been made mandatory that all vehicle in new/used condition to be imported under transfer of residence, personal baggage or under the gift scheme, the duty and taxes shall be paid out of the foreign exchange arranged by Pakistan nationals themselves or local recipient supported by bank encashment certificate showing conversion of foreign remittance to local currency.

“It has been explained that the purpose of this SRO is to curb money laundering, outflow of foreign exchange through Hundi/Hawala and misuse of the mechanism of transfer of residence/personal baggage and gift scheme for the purpose of commercial imports. In principle, we support any revision In the Import policy which is In line with the national Interest of our Pakistan,” H.M Shahzad said.

However, this SRO was issued without taking all stakeholders into confidence, he said.

APMDA letter notes at the outset it is necessary to understand that almost one million vehicles are sold in the market annually. Local assemblers supply about 250,000 vehicles and about 70,000 imported vehicles.
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