It is to mention that the bookings of the new cars have been on the whole declined just as on the rate of 30% during the same period last year as to be ever since the previous government imposed on with the ban on non-filers to buy cars from July 1st. It has been investigated by the experts that the actual impact of the ban, has been not reversed with the part of being the PTI government’s mini-budget, will emerge by December in the year 2018.
Why there is Ban on Purchase of Cars by Non-Filers?
It is to highlight that the ban on the purchase of cars by non-filers was on the whole exempted in the case of the country’s agriculture sector that is to see as being how it constitutes 30 percent of the country’s gross product (GDP). Hence this course of the ban has been much standing as practical from the 1st of July of the current financial year 2018-2019. As per according to some of the inside sources, the sector of the automobile industry has been all set with the post-ban by the annual sales of cars will decline from 240,000 units to the limit of the 168,000 units.
Effect of Ban on Low Engine Capacity Cars:
This ban has also shown with some impact over the sales in the low-engine capacity car market. There has been the setting of the significant decline in the course of the transactions as in the previous month. The company hence, on the whole, dominates the low-engine capacity car segment that is to be below 1000cc vehicle category. There has also been the involvement of the sales decline over the 27% set with its volumes falling to 8,683 units the year on top of the year. The most significant decline in did, on the whole, occurred with its Ravi and Mehran variants, that is to be with their sales plummeting by 50 percent and also with the 42 percent respectively. The sources have also carried out with the value of the automobile’s industry’s annual sales will plummet by Rs.100.80 billion.
Here we would like to mention that the decline has also been manifesting with the regards to the tax collected by the Federal Board of Revenue (FBR) that is meant to set with a shortfall of Rs 32.25 billion. Currently, fees constitute with the range of almost 32 percent of a car’s price. The sources have unveiled that if the ban persists, then this will be leading to the reduction of 2,500 assembler jobs while 12,500 persons by the, directly and indirectly, working for vendor plants and will also lose employment. It will lead to the resulting of the slowdown in the large-scale manufacturing industry and so as in the range category of the GDP growth.
