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Prices of different vehicles coming down in country as result of tax relief: Khusro

Prices of different vehicles coming down in country as result of tax relief: Khusro
July 7, 2021

ISLAMABAD (92 News) - Minister for Industries and Production Khusro Bakhtiar has said that the prices of different vehicles are coming down in the country as a result of tax relief announced by the government for the auto sector.

Accompanied by Minister for Information Fawad Chaudhary, Khusro Bakhtiar was addressing a news conference in Islamabad on Wednesday. He also said that the notification regarding reduction in the prices of vehicles will be issued in the next few days.

The minister 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.

He pointed out that 164 vehicles were manufactured in the country last year. This capacity will be enhanced to three hundred thousand this year.  He said this will provide additional three hundred thousand job opportunities to the people.

He said 2.6 million motorcycles were 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. He 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.

The minister said the manufacturing of electric and hybrid vehicles will also be encouraged which will also accrue benefits for the economy.

In his remarks, Fawad Chaudhary said that the current government has put the economy on the right track. He said the current account deficit has been brought to zero whilst the industries and the agriculture sectors have been revived.