A Pakistan government panel recommended lower tariffs on cars to boost import volumes and tax revenue.

Import duty on all vehicles, including used cars, must be reduced by 5 percent while those on cars with engines of 1,800cc or higher must be slashed by 25 percent, Mohammad Zubair, a member of the panel, said in a phone interview on Wednesday.
Pakistan needs to boost tax collections as a percentage of gross domestic product to meet requirements under an IMF program. The move to make imported cars cheaper will hurt local manufacturers, according to Asad Nayani, an analyst at Global Securities Ltd. Automobile stocks fell.

Please read the full Bloomberg story here.A Pakistan government panel recommended lower tariffs on cars to boost import volumes and tax revenue.

Import duty on all vehicles, including used cars, must be reduced by 5 percent while those on cars with engines of 1,800cc or higher must be slashed by 25 percent, Mohammad Zubair, a member of the panel, said in a phone interview on Wednesday.
Pakistan needs to boost tax collections as a percentage of gross domestic product to meet requirements under an IMF program. The move to make imported cars cheaper will hurt local manufacturers, according to Asad Nayani, an analyst at Global Securities Ltd. Automobile stocks fell.

Please read the full Bloomberg story here.