The President Hyderabad Chamber of Small Traders and Small Industry (HCSTSI) Farooq Sheikhani has demanded the govt to abolish regularity duty on unnecessary items particularly on local tyre manufacturing. He said that tyre prices have been increased up to 30 percent because of imposition of regulatory duty and such enhancement is badly affecting the transporters, vehicle owners and traders.
He said that high prices of local tyres have also encouraged the smuggling of foreign branded tyres as 131 percent increased was witnessed in the demand of foreign branded tyres through Afghan Transit Trade. The sale of local tyres of buses and trucks has been inclined to 65 percent and small vehicles tyres to 35 percent, he said and added that it is great financial loss to local tyre manufacturing industry.