ISLAMABAD-The total number of old and used cars imported in Pakistan has drasticallydecreased to 10,432 during 2019-20 as compared to 46,000 during 2015-16,reflecting a decrease of 77.32% or 35,568 vehicles during the last fourfiscal years.

This data, available with ProPakistani has been shared by the SecretaryAuto Industry Development Committee (AIDC) of the Engineering DevelopmentBoard (EDB) during the recent meeting of the committee, presided over bythe Chief Executive Officer (CEO) EDB.

During the meeting, the senior manager of Indus Motor Company highlightedthat month by month imports of used cars are increasing in the country.

Secretary AIDC highlighted that year on year imports have reduced fromalmost 46,000 in 2015-16 to 10,432 in 2019-20.

CEO EDB emphasized that industry should improve situation for availabilityof cars, reduce prices and consumer rights should be protected, sourcesquoted him as saying during the last meeting of the AIDC of the EDB.

Senior FBR officials told ProPakistan that the Federal Board of Revenue(FBR) has suffered massive revenue loss from low tax collection on theimport of old and used vehicles during (2019-20) due to a change in importpolicy for secondhand cars.

According to a document of the FBR on factors responsible for affectingrevenue collection during 2019-20, change in the import policy for usedvehicles negatively impacted the FBR revenue by Rs. 22 billion (all taxesat the import stage) during July-January (2019-20) due to a change inimport policy for secondhand cars.