ECC to consider concessions for cars import

The Economic Co-ordination Committee (ECC) of the cabinet will consider some concessions for the import of cars under transfer of residence scheme, baggage rules and gift scheme to facilitate overseas Pakistanis. Sources told Business Recorder on Monday that the CBR has moved a summary to the ECC to amend customs laws to ensure removal of practical difficulties being faced by overseas Pakistanis. However, the issue was not taken up in the last ECC meeting. New concessions will be considered in the upcoming meeting.
The CBR has proposed to increase depreciation allowance on the import of old cars (800cc to 1800cc) from one to two percent per month. The condition of one-year prior registration in the name of overseas Pakistanis is likely to be taken away.