Luxury cars transported into Pakistan on expired temporary visas have been ordered to be seized by Prime Minister Shehbaz Sharif.
The Premier presided over a meeting on expensive cars and questioned why the relevant departments had not taken enforcement action against them. Sharif gave the order to appoint a committee to look into the matter.
The Premier argued that authorities implicated in the unauthorised use of this technique should face harsh punishment. He asked that all automobiles with expired licence plates be impounded right once and that comprehensive and precise data be gathered on each one.
The Federal Finance Minister Ishaq Dar has received a distress call from the Pakistan Association of Automotive Parts and Accessory Manufacturers (PAAPAM) seeking that imports of automobile assembly kits and auto parts be immediately removed off the list of “non-essential commodities.“
The association claimed in a letter to the finance minister that makers of vehicle parts save $1.5 billion annually by avoiding imports and contribute more than 5% of the nation’s tax receipts.
The business is on the verge of permanent closure due to rising inflation, currency devaluation, and record-high markup rates, thus the group urged that all banks release all LCs for imports by legitimate part makers and suppliers.