Soon the new auto policy for Pakistan is going to be announced as told by the Commerce Minister, Khurram Dastagir on Monday during a meeting with a delegation of auto sector held at the Ministry of Industries office. The delegation of auto sector, led by the Japanese Ambassador to Pakistan, is amongst the very important stakeholder of the auto industry, is trying its level best to have the auto policy approved as early as possible by providing its consultation in policy matters.
The remarks of Commerce Minister included that Pakistan is not only interested in trade with Japan but also interested in technology transfer.
The delegation also presented their views about the auto policy in form of recommendations and told that the import policy of used cars is being misused by car importers who are using the loopholes in the policy to import used cars under gift, transfer of residence and personal baggage scheme and selling them commercially.
During a period of 5 months between July and November, 10,276 cars were imported from 5 different countries including Japan among which 10,217 cars were imported under personal baggage scheme, 59 under transfer of residence scheme, however, no cars were imported under gift scheme during the tenure.
In the previous fiscal year 9,399 cars were imported during the same tenure which shows about 10 percent increase in the import of used cars. Majority of the cars imported during the last 6 months were 1000cc or less as there are very less options available in the local auto industry owing to the change in auto policy which resulted in the discontinuation of 1000 cc Suzuki Alto and 800cc Daihatsu Cuore from Pak Suzuki Motor Company Limited (PSMCL) and Indus Motor Company (IMC) respectively.
The Commerce Minister assured that the upcoming auto policy will address all these issues that were brought into his attention and the new auto policy will be in the interest of all the stake holders including Pakistan Automotive Manufacturers Association (PAMA) and other local automakers, and the consumers. He further added that the used car policy will be reviewed and transparency will be brought in the policy of importing used cars in Pakistan as well as the taxation system for used cars in the country will be simplified.
After a detailed and productive discussion on the new auto policy, the meeting concluded after constituting two working groups who would review the draft policy and bring in new proposals, if needed, for incorporation in the final auto policy.