ISLAMABAD, Aug 23: The import of complete build unit (CBU) cars recorded a negative growth of 38 per cent during the year 2006-07 over last year.
Official figures released here on Thursday by FBR showed that the number of CBU units imported during the year under review stood at 26,967 units as against 43,280 in the previous year.
Since a major chunk of customs duty revenue generated from this sector was contributed by import of motorcars, jeeps, therefore, any change of policy related to motorcars, especially old cars/jeeps, has serious repercussions for collection from this source.
A revised policy regime restricting import of motorcars older than five years was introduced in the budget 2006-07. As a consequence, not only the number of imported cars declined, it also adversely impacted the import value and customs duty as well.On the other hand, the import of completely knocked-down (CKD) and semi-knocked-down (SKD) cars recorded a decline of two per cent during the year 2006-07 over the same period of last year.
The total number of CKD and SKD vehicles imported during the year under review stood at 179,188 units as against 182,906 units in the previous year.
