Tuesday, 20 December 2011

Pakistan : Govt gives green signal to new car manufacturers



To cut the prices of locally manufactured cars, federal ministry of finance, economic affairs, statistics and revenue finally give go ahead to new entrants to import complete knock down (CKD) kits at customs duty rate of 32.5 per cent and 20 per cent in case of cars and Light Commercial Vehicles (LCVs), respectively. Ministry of finance has issued notification (SRO 1098(1)/2011) on Friday, which amends SRO 693(1)/2006, dated 1st July, 2006. The notification states, “…the additional customs-duty leviable under this notification shall not be charged on sub-components and components, imported in any kit form by an assembler or manufacturer declared to be a new entrant by Engineering Development Board (EDB), for the vehicles specified in the said table for a period of three years from the start of assembly or manufacturing of respective vehicles.

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