As soon as the supplementary budget was presented, analyses and commentary started pouring in.
While some do not look happy with the new budget, many are pleased. The auto industry comes in the latter category, as the new budget has lifted the ban on non-filers from purchasing most locally assembled vehicles.
Spokesperson Pak Suzuki Motor Company Limited, Shafiq Ahmed Sheikh says,
It is a marvelous step of present Government. Through this lifting of the ban, definitely, the production and sales of locally manufactured vehicles will increase.
He opines that since the imposition of the ban, i.e., in July last year, the local automobile companies have suffered immense losses. The loss of Pak Suzuki alone stands at 32 percent amid the ban.
Shafiq said that the change in the government’s decision will benefit both the users and the government. The government will receive more revenues and the allied and vending industry will boost.
It will create more employment opportunities eventually. Above all, it will help restore the confidence of the investors and the business community.
Notably, under the Finance Supplementary Second Amendment Bill 2019, the government has allowed the non-filers to purchase small and medium-sized cars up to 1300CC. There’s also been more tax reductions for investors and stakeholders in the auto sector.