As we know that the import of used vehicle is restricted from the government and this is a big loss for the used car importers. They have applied request o the government to open the import of used vehicle as its not only beneficial for the dealers but also give high profit to the government in the form of costume duty. As we already write that the import of used vehicle is down in the last few months due to the increased rate of dollar price. But now the government make three policies under the import used vehicle can be happened and now no one can easily import the vehicle as previous. In the month of February 2019, the import of used vehicle dips by 74% and this is a big loss for the dealers and as well ass for the government because government generates the revenue from the customs clearance.
Currently, the government only allow three scheme underused car can be imported:
- Transfer of Residence
- Gift
- Baggage
Under the current Baggage law state that if a person goes abroad and returns with the car only he/she is allowed to return with one vehicle in one year.
The duty of imported vehicle depends on the engine power. The chairman of All Pakistan Motor Dealer Association HM Shehzad clam that 80 to 90 percent import of used vehicle is 660 cc and 1000 cc engine car. The duty of the vehicle is the same for all three conditions and it increases as the engine capacity increased.
The import of used vehicle is badly affected and down day by day because of this policy import of used vehicle is not only profitable for the importers but it also generates high revenue for the government in form of customs duty.
