There has been a massive surge in imports of used cars. One key reason for this increase could be recent regulatory changes favouring imported used cars over locally assembled vehicles. The current scenario has the potential to result in huge losses for local vendors, potentially leading to business closures, job losses, and economic instability.
It could also deter future investment in the country. Therefore, it is imperative for the government to consider adjustments to relevant duties and taxes on locally produced vehicles, or alternatively, the reapplication of regulatory duties and additional custom duties on used car imports.
Syed Ovais Akhtar
Karachi