Summary The government had to take few bitter steps in order to compensate less revenue, says Dar
ISLAMABAD (Dunya News) – The government has increased regulatory duty on import of used cars by ten percent resulting in Rs 95,000 to Rs 2 lac increase.
According to the dealers, cars ranging between 1,000-3,000cc would cost Rs 95,000 more while those 1,300-1,500cc would cost Rs 1.35 lac more.
Meanwhile, used cars above 1,600cc till 1,800cc will cost at least Rs 2 lac more after the imposition of revised regulatory duty.
Earlier on December 2, Finance Minister Ishaq Dar had said that had the government not increased duty on imported luxury items, it would have struggled for resources required in war on terror.
Dar said that the government had to take few bitter steps in order to compensate less revenue collected through other taxes. However, he said that international organizations are also taking note of Pakistan’s better economical status.
He said that foreign organizations were hinting in 2013 that Pakistan would go bankrupt within few months. We took it as a challenge and took necessary steps to improve the economy, he added. Talking about Pakistan’s war on terror, Dar said that military and civil leadership is on the same page.
The country has spent at least Rs 45 billion in Operation Zarb-e-Azb, he added. Dar said that duty tax was increased two days before only on import of luxury items. The change would not affect a commoner, he added.
The minister said that the imposition of hiked duty was necessary to continue war on terror and equal distribution among provinces.
Dar said that the government took loans from the International Monetary Fund (IMF) in the first two years so that it could shed the debt accumulated during tenures of previous governments.
