Recently, the ministry held a meeting with used cars import dealers to discuss the import of used car on a commercial basis. This meeting was held at Engineering Development Board (EDP) in this meeting dealers show their interest to reopen import of used vehicle on the commercial basis they also explain their business inclination because of new import policies.
The ministry of industries and production has rejected the proposal of import used vehicles on a commercial basis the ministry said the import of used cars on a commercial basis has directly affected the local automobile industry and decrease the value of local automobile in the country and effected on the new entrants of the local automobile.
Used vehicle devalues the local production of cars and spare parts and its cause economic loss because it’s more beneficial for the economy to manufacture cars in the country and promote the automobile industry.
Ministry said the improvement of this proposal should be a bad effect for the local automobile industry and disturbed the new entrants. They also explain that because of this new import of used cars policy from last 5 month the automobile industry of the country developed and the local automobile market strong.
The Auto Development Policy 2016-21had very attracted to the economy many of the foreign investors have planned to import automobile from Pakistan and many of them have the plan to set their project in the country. This will promote the export of the country and increase the level of export, this policy also offers a job for the public and help to decrease the unemployment ration in the country.