Pakistan’s Government has informed the auto manufacturers that if a car has not delivered within 60 days of the booking. The buyer has entitled to a refund of his or her “own money” as well as payment of KIBOR plus 3% interest.
The “own money” is the amount that an investor has charged a buyer who wants to buy a vehicle right away. It is higher than the real cost of a car. It’s a frequent occurrence in Pakistan’s automotive companies, where car assemblers can take months to complete an order. A customer must make a partial payment to reserve a vehicle which can take up to six months to arrive.
Senate Committee statement:
The Senate committee has held under the chairpersonship of Senator Khalida Ateeb. In committee the Engineering Development Board (EDB) briefed the committee. On the question of “own money” on Senator Dr. Asif Kirmani’s automobile booking, he said that the buyer has to pay only 20% of the total price of the car at the time of booking.
The committee has informed that the Honda Company’s accessories have locally manufactured, influencing the quality of the products, on the subject of standardization and quality of products and parts of automobiles. It has also revealed that the EDB has no role in production standards.
Inquiries for Late Delivery:
The committee has also expressed concern over the procedure to be followed for the road test of the car. They have inquired whether the procedure has double-checked by another party other than the company. A query from the Engineering Development of Board was also raised by the committee regarding the autos’ delayed delivery time.
