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There are strong indications that the Federal Government may have dumped recommendations of the committee it set up to look into the possibility of reviving the automotive industry.
This follows the presidential accent to the 2020 Finance Bill a week ago which revised the auto import duty and levy policy, while rubbishing the earlier recommendation of the committee spearheaded by the Bureau of Public Enterprises, BPE, on the strategy for revival of the local auto manufacturing industry.
The Finance Bill is set to implement a reduction of the levy on imported vehicles from 35 per cent to five per cent, and also the import duty on same from by same margin contrary to the stipulation of the auto industry development policy and the recommendation of the BPE-led committee.
Vanguard News
Finance Bill crushes auto industry, rubbishes BPE recommendations
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Motoring Editor
There are strong indications that the Federal Government may have dumped recommendations of the committee it set up to look into the possibility of reviving the automotive industry.
This follows the presidential accent to the 2020 Finance Bill a week ago which revised the auto import duty and levy policy, while rubbishing the earlier recommendation of the committee spearheaded by the Bureau of Public Enterprises, BPE, on the strategy for revival of the local auto manufacturing industry.
The Finance Bill is set to implement a reduction of the levy on imported vehicles from 35 per cent to five per cent, and also the import duty on same from by same margin contrary to the stipulation of the auto industry development policy and the recommendation of the BPE-led committee.