According to the economic experts the decision of importing cars would be fruitful as by doing so there would be competition in the country among the locally manufactured and imported cars. This would also eliminate the monopoly of the existing manufacturers, and the people would buy vehicles at reasonable prices.

ISLAMABAD - The government is considering to allow the import of cars used for more than ten years to bring down their prices and end the monopoly of local automobile manufacturers.

The government is already importing three yeas used cars in the country but due to the rising prices of the cars in the domestic markets the government is thinking to import the ten years used cars.

Well placed sources told TheNation on Thursday that Federal Board of Revenue (FBR) had forwarded recommendations regarding import of used cars for government’s approval and decision to this effect would be announced in the Federal Budget for the financial year 2009-10.

The decision is taken in order to eliminate the monopoly of the local manufacturers in the country as they are raising the prices of cars at their own which has also resulted in lower sale of automobiles.

According to the figures released by Pakistan Automotive Manufacturers Association it was revealed that in the first nine months (July-March) of the current financial year the sales of automobiles plunged by 49.5pc mainly due to high prices and costly leasing.

This post Source:http://www.nation.com.pk/