The Lahore Chamber of Commerce and Industry (LCCI) Chief Mian Anjum Nisar has called upon the Federal Government to bring down the import duty on new cars so as to curb ongoing black marketing in car industry.
In a press statement issued here on Tuesday Anjum maintained that the import of re-conditioned cars would impede the progress being made in the car industry, hence it should not be allowed.
He was of the view that gradual decrease in the import duty on new cars would create an atmosphere of competitiveness between imported and local cars.
Moreover it would ultimately fill the gap between demand and supply, putting an end to ongoing black marketing.
He stressed upon the government to strictly enforce deletion programme in auto sector in order to promote vendor industry that would help generate more job opportunities.
He urged upon the government to allow import of second hand used auto parts that are not made locally.
The government of Pakistan has banned the import of second hand auto parts over the years, but the second hand auto parts business is continuing through illegal means.
Meanwhile, the LCCI Chief in another statement welcomed the Central Board of Revenue's decision to condone the delay in payment in terms of Section 73 beyond prescribed period of 120 days.
Under Sales Tax General Order No 1/2004, all cases of delay stand condoned for 60 days automatically, he added. He also welcomed CBR decision to empower Collector Sales Tax to grant further condonation in case of delays beyond 60 days if he feels satisfied that the delay was genuine and due to circumstances beyond the control of the application.
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