The federal government is considering imposing restrictions on the sale of imported old vehicles in Pakistan for up to three years in the next fiscal year’s budget.
Sources said that Prime Minister Shehbaz Sharif recently in a meeting directed the Federal Board of Revenue (FBR) to control the massive misuse of personnel baggage schemes, transfer of residence, and gift schemes on the import of old and used vehicles.
Sources said that the personnel baggage scheme, transfer of residence, and gift scheme are reportedly misused on the import of old and used vehicles.
The PM directed the member customs policy, FBR to ensure implementation of the import policy on the import of old and used vehicles in spirit.
It is expected that a major policy change will be made by restricting local sales of imported old vehicles in Pakistan for a period of three years.
The FBR will also propose legal changes to ensure that commercial importers remain unable to misuse the passports of overseas Pakistanis. The vehicles are imported in the name of overseas Pakistanis under the baggage scheme and immediately sold in commercial markets.
Under the law, overseas Pakistanis are entitled to import vehicles under the personnel baggage scheme, transfer of residence, and gift scheme who have not imported, gifted, or received a vehicle during the last two years under the Import Policy Order (IPO), 2022.
Finance Bill 2024 is expected to check misuse of the policy on the import of old and used vehicles, sources added.
This will be the worst decision ever. Local car mafia will win and people will lose again. Why pmln is creating such useless policies?. Local cars are expensive and people have not much choice.That is why people are importing to get value for money.
It will be a good decision as clearing agents in compliance with customs officials cheat overseas Pakistanis by not accepting their legal documents and remittances sent from abroad and force overseas Pakistanis to passports from them which cost between 10 to 20 lac for cars 1000 to 1500 cc government should increase duty by 10 to 20 lac and abolish passport sale purchase system by making easy simple and hassle free import procedure for genuine overseas Pakistanis including nicop holding citizens who hold only foreign passport
It’s another stupid move, brain dead bureaucracy. Pakistan Embassies should be the one working to verify the income certificates. The income ceiling should increased based on the landed cost of vehicle.
Yet another stupid idea. Continue to patronise and pamper the local car assembly mafia to inflict further torture upon the ordinary citizen. Look at the price of vehicles in neighbouring India and that of the used vehicles in Japan. Please shut down totally the local assembly of vehicles made of tin and plastic at an extraordinarily exorbitant price. Please stop.
You are absolutely right brother. I am sick of this car maffia monopoly exploiting citizens with the aid of government. All local factories should be burned to the ground. Jdm cars are so cheap and 10000000 better than any crap manufactured here but not accessable for us because of car maffia
Just fixing to help their cronies. Pakistan’s auto industry has never given anything to the consumers. Substandard products at inflated priced under cover of local manufacturing. Want to help country, allow unlimited used car imports save foreign exchange, and more fuel efficient cars.