‘Ministry of Industries must design some mechanism to regulate the local cars prices’
Islamabad : Federation of Pakistan Chambers of Commerce and Industry Standing Committee, Former Chairman and Businessmen Panel Secretary General (Federal) Ahmad Jawad on Wednesday says consumer welfare is altogether missing as evident from high prices, less variety and low quality of vehicles being assembled in Pakistan.
He questioned if local manufacturers have continuously increased their vehicle prices with the dollar volatility then what’s the benefit for masses of the local industry ? it’s more better that government may reduce the import duties on brand new vehicles, so that masses may get benefit out of it and at least they enjoyed their machines with due international standards and safety measures.
In Pakistan Manufacturers enjoy exemptions and concessions on the import of items, which if imported by others are liable to duties and other charges. Consequently, the local manufactures neither developed their capacity nor upgraded technology to improve quality for their captive market.
He also pointed out that protection to sectors like auto and textile is high in Pakistan and consumer welfare is totally missing from the entire scheme of tariff. Despite high protection and multiple export promotion schemes, however, local manufacturing is weak and exports are stagnant.
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