The import of used vehicles in first four months of this year has resulted in estimated loss to the national exchequer of more than 12 billion rupees in terms of duties and taxes, that too only for vehicle less than 1800cc, said Pakistan Automobile Assemblers Dealers Association (PAMADA) Vice Chairman Iqbal Shah.
“As per data from customs, 18,664 units of all segments were imported in January-April 2016 while the number of imports was 12,401 in January-April 2015, showing 51 per cent increase,” he added.
The import of used cars of different segments in January to April this year has almost doubled as compared to the imports in the same period last year, creating huge losses for local auto and vendor industries besides inflicting huge loss in duties to the national exchequer.
He further stated that the local auto industry had been questioning since long the rationale behind the import of used cars at the time when the government was striving to attract foreign investors.
“The policy makers are working at cross purpose as on one hand the government envisions global car makers to enter the Pakistani market and on the other hand liberal import of used cars is allowed,” said Iqbal.
According to the data, 3,394 units of economy segment vehicles were imported in January-April 2016 against the 1,902 units imported in January-April 2015. Similarly, 6,666 units of small low segment were imported in January-April 2016 against 4,541 units in the same period last year. While 2,251 units of small high segment were imported in January-April 2016 against 1,247 units in the same period last year.
The imports of van, minivan, pick-up segment saw huge increase in the said period. Total 4,869 units of the said segment were imported in January-April 2016 against 2,997 units’ import in the said period of last year.
