Tax relief to auto sector helps bring vehicles prices down in the country: govt

Tax relief to auto sector helps bring vehicles prices down in the country, says Minister for Industries and Production Khusro Bakhtiar.

He stated this, while addressing a news conference in Islamabad on Wednesday.

Minister for Information and Broadcasting Chaudhary Fawad Hussain accompanied him.

Tax relief to auto sector helps bring vehicles prices down

Khusro said that the prices of different vehicles are coming down in the country as a result of tax relief, which the government announced.

The Minister for Industries and Production said that the notification regarding reduction in the prices of vehicles will be issued in the next few days.

Khusro Bakhtiar said the new auto policy will be furnished before the cabinet next month for approval. He said the policy will especially focus on localization and making the auto sector export oriented.

He said our focus will be to ensure availability of a quality car to the people at a fair price.

The Minister pointed out that 164,000 manufactured in the country last year. This capacity will be enhanced to three hundred thousand this year.

300,000 jobs

Furthermore, he said this will provide additional three hundred thousand job opportunities to the people.

He said 2.6 million motorcycles manufactured last year and this capacity will be enhanced to three million units this year.

This will provide additional seventy five thousand job opportunities.

Khusro Bakhtiar said that special facilitation is also being extended to those who are purchasing a car for the first time.

The Minister said it will be also ensured that the customers get their vehicles in a timely manner.

He said there will be a penalty if the customers were not provided with vehicles in sixty days’ time.

Khusro Bakhtiar said the govt would encourage manufacturing of electric and hybrid vehicles. That will also accrue benefits for the economy.

Meanwhile, Minister for Information and Broadcasting Chaudhary Fawad Hussain also spoke.,

He said the present government has put the economy on the right track.

He said the government has brought current account deficit to zero.

Moreover, Fawad also mentioned revival of the industries and the agriculture sectors.

GTV