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5% duty reduction on import of CKD units proposed

5% duty reduction on import of CKD units proposed

KARACHI: About 5 per cent decrease in duty on import of Completely Knocked Down (CKD) units has been proposed in the forthcoming Auto Industry Development Policy, sources revealed.

It is hoped that locally assembled car prices will decrease by up to Rs192,000, an analyst said. He added that the local auto assemblers who had been unwilling to pass on any cost advantage to the buyers will now decrease the car prices to pass on the effect.

According to the his opinion, if the companies pass on the entire benefit of the duty reduction, price reductions would be in the range of Rs 7,000 to Rs 92,000.