The Government of Pakistan has entirely removed regulatory duties on imported cars. This removal will drastically reduce the prices of imported cars by up to 1,800cc.
Regulatory duties were imposed on imported goods such as cars and mobile phones to reduce their imports. But imposing these regulatory duties was not very satisfactory because it only created an impact of 400 million dollars on the economy which was not a good number. Alternatively, it badly affected the local cars and mobile businesses.
The law of these regulatory duties has expired on 31st March 2023 and TF Board decided not to extend its date. This decision will create a good impact on the Pakistani economy.
Regulatory duties dropped on imported cars
The businesses and users of old imported cars will enjoy reduced fares of up to 1800cc cars. This will also help in the release of around 700 imported cars that were stuck at Karachi port due to regulatory duty.
Now Pakistani consumers don’t need to rely on poor quality locally assembled cars. They can import used cars from other countries such as Japan or Korea and enjoy good quality cars with a lot more features.
This removal of regulatory duty will also decrease the prices of imported smartphones. The prices are smartphones are starting decreasing but car prices will decrease within a few months because car selling mafia is very strong in manipulating car prices.
New 18,00cc cars will not fall in this exemption of regulatory duty. Only old imported cars will fall into the exemption. So, don’t get confused because of this difference.
Car consumers are extremely happy about this news but car dealers are expecting no change in the car prices. Because they know how to manipulate the prices of old cars. We are hoping that Government will take strict action against car dealers and transfer this relief to common people.
If you have any questions about regulatory duties dropped on imported cars then ask in the comment section.