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Stakeholders call for boosting auto exports

Stakeholders call for boosting auto exports
tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.

Auto industry flexing muscles for price hike

Bright skies and a shining sun - Newspaper

The government has showered auto assemblers with a number of incentives like a cut in the Federal Excise Duty (FED) by 2.5 per cent, additional customs duty (ACD) from 7pc to 2pc and general sales tax (GST) to 12.5pc from 17pc on cars up to 1,000cc. Consumers have recently witnessed price cuts of Rs11,000-400,000 on different engine power vehicles. Industry people believe that the cut in duties and taxes in Budget 2021-22 is an integral part of the new Auto Development Policy 2021-2026 and some more relief measures are on the cards when the new auto policy will be unveiled.

Auto assemblers flexing muscles for another price hike - Newspaper

Qazi Hadi at Topline Securities said Pak Suzuki informed analysts that with regards to rupee-dollar parity, the company may undertake price review. AFP/File KARACHI: As the auto assemblers anticipate jump in vehicle prices on account of spiralling raw material prices on world markets, another cost pressure has emerged following removal of export tax rebate by China on 146 kinds of steel products from May 1, 2021. At the analyst briefing held last week, Pak Suzuki Motor Company Ltd (PSMCL) and Indus Motor Company (IMC) cautioned about price hikes in vehicles. Qazi Hadi at Topline Securities said Pak Suzuki informed analysts that with regards to rupee-dollar parity, the company may undertake price review. However, the potential impact of the ongoing third wave of Covid-19 is also under consideration.

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