25 January, 2015 / 30 Rabi-ul-Awwal, 1436

ISLAMABAD, June 14: The ministry of industries on Thursday turned down a request by Yamaha motorcycle company of Japan for relief in import duty on motorcycle parts.

Yamaha demanded that it should be allowed to pay five per cent duty on import of motorcycle parts whereas the ministry of industries says that the government has already reduced the import duty from 15 per cent to 10 per cent which is acceptable to all motorcycle manufacturers in Pakistan.

A delegation of Yamaha motorcycle held a meeting with Secretary of Industries Aziz Ahmed Bilour in Islamabad and submitted a proposal to reduce import duty on the plea that the Japanese manufacturer was bringing in new technology to Pakistan and being a new entrant it needs some additional benefits to survive in the existing competitive market in Pakistan.

Mr Aziz Ahmed Bilour informed the Yamaha delegation that the ministry of industries was keen to bring in new investors in the country but not at the cost of the existing industry.

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