KARACHI, Sept 8: The KCCI has urged the Ministry of Industries and Production to reduces duty on new assembled cars.

In a statement here on Monday, president KCCI Mian Nasser Hyatt Maggo said that in the wake of widening imbalance between the demand and

supply of the cars in local market, when black marketing of car is growing with a fast phase, it is high time that the government take a favourable decision.

He said that new booking of cars for further time period has been stopped by one of the companies and the other companies might follow the suit.

He pointed out that auto car dealers receive full advance payment against the booking of new vehicle. This clearly indicates that the auto car industry is secured financially at least for two years.

In order to wipe out the element of malpractice and black marketing in cars business, the government should reduce the duty on new cars, Maggo added.

By doing so the element of black marketing in auto cars marketing will go down and decelerate.

The KCCI President also stated that a newly-formed task force for auto industry consists of those who were previously part of policy-making machinery of the government.

He suggested that the task force should be reorganized.

—APP