Tuesday, 24 July 2012 10:51
LAHORE: The Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) has flayed the change in current policy regarding the motorcycle industry and said the plan to allow a new investor to import all motorcycle parts at five percent duty instead of current rate of 15 percent would not only be a negation of previous policies, but it would also encourage producers to bypass local vendors and manufacturers.
The Paapam Managing Committee members in a meeting held here on Monday observed that the sector had progressed tremendously due to consistent policy making on part of the government, but the new policy has threatened the industry growth.
The Board of Investment’s initiatives to give incentives to a Japanese motorcycle manufacturer’s re-entry in the Pakistani market at five percent rates had shaken the confidence of investors and local manufacturers.
It is also worth mentioning that the so called “new entrant” will recover its total ...