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Naveed Qamar, the federal minister of commerce, has suggested that auto dealers lower the cost of imported cars. If the cost of imported vehicles does not decrease after the regulatory duty is removed, action will be taken.
According to Naveed Qamar, the staff-level agreement with the IMF will be completed before the next budget. The additional regulatory duty on luxury goods was terminated on March 31.
Car sales, however, have decreased by 54% in just 10 months.
In the first ten months of the current fiscal year, the nation’s car sales have decreased annually by 54%.
Read more: Pakistan needs $8 Billion to unlock Loan Tranche: IMF
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