'No change in government policy on car imports'

The government on Friday reiterated its full support to the booming local car manufacturing industry and made it clear that measures announced in the new budget and trade policy were only aimed at facilitating the Oversees Pakistanis.
"We fully stand committed to support the local car manufacturing and vending industry", said Minister for Industries and Production Jahangir Khan Tareen and Commerce Minister Humayun Akhtar in a joint press conference.
Jahangir Tareen said, there is no change in government's policy on car imports, rather it has been made realistic through some procedural changes in the already existing policy of car imports for Oversees Pakistanis under different schemes.
He said, the local car manufacturing industry was booming, with per annum production reaching to 150,000 units this year from 40,000 units three years back.
The Minister said, as the demand for cars was increasing, the per annum local car manufacturing is targeted to reach 200,000 units next year and 500,000 by the next five to seven years.
Tareen said, the fast track development and growth of local auto industry along with the increased economic and industrial activities was creating ample job opportunities.
Commerce Minister Humayun Akhtar Khan said the government in the new Trade Policy had announced some procedural changes on the import of cars by Oversees Pakistanis under Gift, Personal Baggage and Transfer of Residence schemes.
Elaborating the changes, he said, in case of the import of used car under the gift scheme, the condition of two years has been increased to three years, as leasing period world-wide is generally three years.
Similarly, Humayun said, withdrawal of condition of one year and three months old registration of vehicle prior to import under the transfer of residence and personal baggage schemes, respectively was aimed at facilitating the Oversees Pakistanis.
Terming these measures as 'technical changes', he said, the government has only removed some loopholes in the policy of car imports under these schemes and has made the procedure more realistic.
The Commerce Minister said, ban on the import of used cars to encourage the development and growth of local auto industry was very much intact.
To a question, Jahangir Tareen said, the government with the help of Engineering Development Board (EDB) was also monitoring the local car manufacturing industry in terms of quality and quantity.