2019 was the year when new car manufacturers entered in Pakistan auto industry that is a piece of great news. Last year the government imposed new taxes on the auto sector and after that, the sales were cut down. Now the new auto competitors have asked for tax relief to recover the losses.
Nishat Hyundai Motors Pakistan and KIA Lucky Motors Pakistan restarted its production in Pakistan last year. At the import stage, they are demanding to give relief on input tax. The sales tax figure has been decreased because of high taxes. Muhammad Faisal, the Chief Operating Officer of KLMPL address to the media and informed that the Government should give relief on import stage input tax.
Noreez Abdullah; the CEO of KIA Lucky Motors, has demanded to give complete tax relief until the process of sale improves. Chief Financial Officer of Nishat Hyundai Motors is also agreed with KLMPL to provide ease on import stage input tax. He added that the government should also return previously collected input tax of those who are in the starting phase.
Abdullah said the government should also help the auto sector in this critical period. This is a very tough time for the auto industry because after the outbreak of COVID-19 production has shut down.
The main purpose of auto manufacturers is to ask help from the government to survive and increase production volume.
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