ISLAMABAD: Ahmed Kuli Khan Khattak, CEO of the Ghandhara Group, on Monday, deplored the practice of “own money” — a premium charged over and above the quoted price of a vehicle for immediate delivery — terming it a a curse.

Opposing the practice, he called on the government to make regulatory changes to curb this “illegal practice”.

He was speaking to the media at the launch of Tiggo-8 Pro and Tiggo-4 Pro of Chery Automobiles Company Ltd, a Chinese automaker that has entered the Pakistani market through a manufacturing and licensing agreement with the Ghandhara Group.

The CEP said the middle class in the country was shrinking as the poor and the extremely well-off were growing in numbers.

“This is the key reason why the auto industry is launching more vehicles in the high-end category compared to low-cost cars,” said Mr Khattak, adding that the demand for motorcycles was increasing as two-wheelers served the needs of the low-income groups.

Mr Khattak said his company plans to initiate the manufacturing of components and parts in Pakistan and revealed that Ghandhara plans to invest about $10 million over the next four years.

The company launched the two SUVs in Karachi in March. However, the latest event in the federal capital was held to formally launch the two vehicles upcountry.

Published in Dawn, July 26th, 2022