Federal Board of Revenue (FBR) Chairman Asim Ahmed told the Public Accounts Committee (PAC) on Wednesday that Non-Customs Paid (NCP) in the merged districts of the former Federally Administered Tribal Areas (FATA). The car exemption will end on June 30, 2023. The matter came under discussion when MNA Dr. Nisar Ahmed Cheema said that more than 100,000 duty-free cars are plying on the roads across Pakistan. He added that majority of such vehicles are used for criminal activities.
He highlighted that there are 121192 NCP cars on the road if these vehicles are regularized under the amnesty scheme, the government can earn about Rs.38 billion. 36 billion between 2018 and 2022. 26 billion to the national exchequer Reduction in import duty on used cars In a recent meeting, the PAC asked the government to reduce the import duty on used cars in Pakistan. Competition will increase, he added, adding that the move will provide more options to buyers and force local assemblers to strengthen their value chain.
The committee learned that domestic car makers have collected about Rs 217 billion in advance bookings from customers this year, Toyota Indus Motors Company (IMC) received Rs 112 billion while Pak Suzuki and Honda Atlas received Rs 41.66 billion. 23 billion rupees respectively, according to Secretary Industries and Production Committee members said that when buyers start resorting to imported cars, automakers will likely clean up their act.
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