PJBC slams new payment process

TOKYO: The decision that duty and taxes are to be made in foreign exchange on imported cars will inflict losses worth Rs100 billion and cut thousands of jobs in Pakistan, Pakistan Japan Business Council (PJBC) President Rana Abid Hussain said on Friday. He said the change in the payment procedure would also affect overseas Pakistanis who were in the car trading business.

The PJBC president said that every year, more than 40,000 cars were imported to Pakistan by overseas Pakistanis.

“Hundreds and thousands of people connected with the used car trade, import, sales, and sales support business will be affected by the decision,” he said, adding that the sudden changes in the import procedure would inflict huge losses on the auto industry as well as the government.

Hussain demanded the government to continue the old procedure for importing used cars or allow commercial import of used cars or at-least hybrid cars, which could save fuel in the country.