May 10, 2005	Tuesday	Rabi-us-Sani 1, 1426

Please Visit our Sponsor (Ads open in separate window).

ISLAMABAD, May 9: The Ministry of Industries and Production will submit its proposals to the Economic Coordination Council of the Cabinet for ensuring prompt delivery of vehicles by the manufacturers to the buyers. The step has been taken in response to the recommendations of the Senate Standing Committee on Industries and Production.

According to a press release issued here, a surge in the demand of the locally-manufactured automobiles, especially cars financed by the leasing and banking sector with considerably reduced interest rates and minimum equity, had made it impossible for the assemblers to ensure prompt delivery of cars to the customers.

The Senate Standing Committee on Industries and Production took notice of the situation and directed the ministry to ensure prompt delivery of cars to the customers.

The committee in a meeting chaired by Senator Muhammad Akram had earlier recommended that import of a given number of new vehicles may be allowed to bridge the gap between supply and demand.

It was also suggested that customs duty may be temporarily adjusted in such a way that the price of imported vehicles equals the locally-manufactured vehicles.

The ministry worked out the gap between supply and demand on the basis of bookings and backlog of the locally-manufactured vehicles in consultation with the Central Board of revenue and decided to place the matter before the Economic Coordination Committee of the Cabinet for final decision.