Duty exemption for small used cars irks auto industry
Auto assemblers and vendors have expressed surprise and concern over excluding imported used cars below 1,300cc from the newly imposed 15 per cent regulatory duty (RD), despite the government’s earlier assurances to curb used car imports. Finance Bill 2024-25 has introduced an RD of 15pc on imported used vehicles above 1,300cc while exempting those below 1,300cc. “We were hopeful that the new budget would implement strong measures to discourage the illegal trade of used car imports, often serving as a parking lot for black money. However, we are dismayed by the budgetary measures,” said Abdul Rehman Aziz, chairman of the Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM).