KARACHI: Importers have expressed concern over enhancement of import duty on cars. The government has recently announced 10 percent increase in import duty on cars.
Sources told Customs Today that the government is already bearing a huge loss of Rs 40 billion, so it has decided in principle to increase tax and duties on 300 items.
Importers said that they are worried on 10 percent increase on import duty of the vehicles. They said that this measure will definitely increase the prices of cars. A rough estimate shows that there will be at least Rs 20,000 increase in the prices of these imported cars. Importers also fear that this measure will put a negative impact on auto industry of the country.
