KARACHI :All Pakistan Motors Dealer Association (APMDA) Chairman Haji Mohammad Shehzad said Saturday that the abolition of regulatory duty would significantly bring down the prices of imported 1,800cc vehicles.
He appreciated the government’s decision to remove the regulatory duty and expressed the hope that if the decision was implemented soon, there would be a significant reduction in vehicle prices in the upcoming months despite a possible increase in the dollar rate.
The imposition of regulatory duty last year had made vehicles more expensive, which had a negative impact on sales and purchases,” he said while talking to a private news channel.
Shehzad said that due to the increase in the prices of cars, people had stopped buying them, which caused the industry to lose billions of dollars.
For instance, Honda Atlas Cars Limited, which used to sell 50,000 vehicles a year could only sell 10,000 vehicles in 2023, he said.
The APMDA chairman suggested that if Pakistan manufactured vehicles instead of importing them, not only would prices come under control but the government could also collect revenue of around $1-1.5 billion annually.
He further said that according to an MoU signed in the 1980s, Pakistan was supposed to bring transport technology within five years and manufacture vehicles itself, but unfortunately, it could not be implemented to date.