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Businessmen Panel demands cut in prices of locally made cars

Businessmen Panel demands cut in prices of locally made cars

LAHORE: Businessmen Panel (BMP) Punjab’s Secretary General Mian Usman Zulfiqar Saturday urged the government to announce special slab to reduce the prices of locally assembled cars in the upcoming budget to facilitate the masses.

Usman Zulfiqar, in a statement here, said it was totally unjustified that local manufactures revised their car prices whenever they desired and without even getting approval. The Ministry of Industries must devise a mechanism to regulate the local assemblers’ prices, he added.

He suggested some tax measures to reduce the cost of locally produced vehicles and make the same more affordable. By exempting the imports made under SRO 655(I)/2006 and SRO 656(I)/2006 from additional customs duty under SRO 1178(I)/2015, the government could help reduce the cost of vehicles being produced locally, he added.