No Script Javascript is disabled. Please enable it for better working experience.
Advertisement
Sunday 24 September, 2023
Advertisement

Budget 2023-24: Significant Relief for Bus and Truck Manufacturers

BY Shahzad Saeed Jun 09, 2023. 09:55 pm UPDATED: Jun 09, 2023. 09:55 pm

Advertisement

In the fiscal year 2023–2024 budget, the government provided significant relief for HCV manufacturers.

According to the Finance Bill 2023-24 document, the customs duty (CD) on the import of completely knocked-down (CKD) buses and trucks has been decreased from 10% to 5%.

Bus and truck prices will probably be impacted by this. Even though the manufacturers might not raise the cost, the decline in CD will probably help keep prices stable for a while, which may be good news for the operators of goods and passenger transport services.

The import of agricultural tractors is now subject to a 15% CD imposed by the government. Details indicate that the government set the CD for these tractors based on their engine power.

According to a document, the government has imposed a 15% CD on tractors with engines ranging in power from 26 kW to 75 kW. Other than the aforementioned models, the CD for agricultural tractors is 10%.

Read more: Budget 2023-24: Huge Customs Duties Applied to the Import of Car Parts

 

Advertisement

Related Articles

Who was Maddy Cusack?
Latest

Who was Maddy Cusack?

THE world has been shocked by the news that Sheffield United star...

When will it rain in Karachi?
Latest

When will it rain in Karachi?

According to the Pakistan Meteorological Department's (PMD) latest forecast, certain districts of...

General Elections to be held in last week of January 2024: ECP
Latest

General Elections to be held in last week of January 2024: ECP

The last week of January 2024 will see the general elections, according...

Pakistan vs Malaysia: How to Watch Women’s 6-Nation Match Live
Cricket

Pakistan vs Malaysia: How to Watch Women’s 6-Nation Match Live

Today's match in the ongoing Women's International Friendly Tournament in the Kingdom...

Somalia's National ID System Launches With Support of NADRA
Latest

Somalia's National ID System Launches With Support of NADRA

On September 16, 2023, the first National ID conference hosted by NIRA...

UAE Announces Public Holiday on September 29 in Honor of Prophet's Birthday
Latest

UAE Announces Public Holiday on September 29 in Honor of Prophet's Birthday

In honor of the Prophet Muhammad's (PBUH) birthday, the Federal Authority for...

Advertisement

Latest News

Megan Barton Hanson sizzles in underwear
Entertainment

Megan Barton Hanson sizzles in underwear

MEGAN After filming the Love Island spin-off, Barton Hanson got down to...

Who is TNT Sports presenter and former Gladiator ‘Ice’ Caroline Pearce?
Sports

Who is TNT Sports presenter and former Gladiator ‘Ice’ Caroline Pearce?

Not many people can claim to be a national TV presenter, an...

Who is Aimee Wathen? Luke Rodgers’ wife
Sports

Who is Aimee Wathen? Luke Rodgers’ wife

LUKE RODGERS is frequently in the news due to his relationship with...

Advertisement