Paapam deplores regulatory duty

LAHORE: Pakistan Association of Automotive Parts & Accessories Manufacturers (Paapam) has deplored the imposition of regulatory duty on the imports of raw materials by the auto parts manufacturers (APMs), a statement said on Thursday.

During a meeting with federal secretary for industries Maroof Afzal Paapam former chairman Muhammad Saleem said that the auto industry is governed by the Automotive Development Policy (ADP) 2016/21, issued on March 21, 2016.

Under this policy, all APMs are registered with the Engineering Development Board, who govern and monitor all imports of their raw materials to safeguard against misuse of concessionary duties fixed in the ADP.

The levy of regulatory duty is a complete contravention of the policy framework laid down in ADP and rendering the auto parts industry uncompetitive against imported auto parts.  Saleem proposed the ministry of industry to request the ECC and FBR for providing relief to auto parts manufacturers from the regulatory duty.