President, Karachi Chamber of Commerce and Industry (KCCI) Haroon Farooki said that the Chamber has proposed that the government should reduce duty on spare parts from 35 percent to 10 percent and on motorcycles from 70 percent to 50 percent.
Speaking at an annual meeting of Motorcycle Spare Parts Importers and Dealers Group (MSPDA) on Friday night, he hoped that the government will reduce duties in the upcoming budget.
He said that the chamber has sent practicable budget proposals to the government and hoped that the government would give them due wattage in preparation of the budget. Speaking on the occasion, Former President KCCI, Siraj Kasim Teli urged the government to reduce 50 percent duty imposed in petroleum produces to provide relief to the general public.
He said that due to high rates of duty on motorcycles, spare parts and petroleum products the general public faced hardship in using his own transport. He said that in last five to six years overall economic scenario has register significant improvement but its benefits did not reach the general public. He said that the government should take steps in forthcoming budget to provide relief to the general public.
Welcoming the guests, President MSPIDA Rehan Hanif pointed out that three years ago there was only 25 percent duty on import of spare parts, which was increased to 35 percent. He said that motorcycle is a conveyance of the middle and lower income segment of society and demanded that duty on spare parts should be reduce to 10 percent. He also demanded that dry ports be used for import of raw material only and stop importing goods from these ports.