The federal government has slapped ban on import of more than three-year- old vehicles under gift, personal baggage and transfer of residence scheme. Ministry of Commerce on Saturday issued an SRO (I) 2007 to be implemented from next fiscal after formal announcement in the federal budget.
Earlier, the government had allowed import of five-year-old vehicles under the gift, personal baggage and transfer of residence scheme, but import policy has been revised on the pressure of local auto manufacturers. However, those five-year-old vehicles, which had already been shipped on June 6 would reach the port before July 1.
The ministry, in its S.R.O. (1)/2007 explains that in exercise of the powers conferred by sub-section (1) of section 3 of the Imports and Exports (Control) Act, 1950 (XXXIX of 1950), the federal government has made further amendments in the Import Policy Order, 2006.
In the order, in Appendix-E, - (a) in paragraph-1, clauses (a) and (d) shall be omitted; (b) in paragraph-3, for sub-paragraph (1), the following shall be substituted, namely: - "(1) vehicles more than three years old shall not be allowed to be imported under gift, personal baggage and transfer of residence schemes.
This condition shall be effective from July 1, 2007"; and (c) In paragraph-4, - (i) in sub-paragraph (2), clauses (a) and (f) shall be omitted; and (ii) in sub-paragraph (3 clause (e) shall be omitted.
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