The government should allow the import of new vehicles at an 'agreed tariff' with the assemblers of vehicles in Pakistan so as to bridge the present demand and supply gap of new cars instead of allowing the import of reconditioned vehicles.
This was demanded by Iftikhar Ali Malik, chairman, Pakistan-US Business Council and former FPCCI president, in a statement, issued here on Monday.
Malik said the automobile is an industry of future, and the private sector has very rightly invested billions of rupees in this potential industry with the hope that it would yield positive results, adding the government must encourage them instead of undermining their investment, as vendor industry associated with the assemblers adding value to the raw material, apart from providing livelihood to thousands of skilled workers.
He hoped that wisdom will prevail, and the government will not allow the import of reconditioned cars at the stake of a growing domestic industry.
Expressing his concern over the shortage of steel and indifferent attitude of the government towards reducing the impact of taxes on the import of steel, Malik made an appeal to the government to immediately reduce duty on CR & EG steel and steel scrap to 5 percent and zero percent, respectively.
Moreover, incentives must be given in the forthcoming budget to establish mini steel mills preferably based on the domestic raw materials, he emphasised.