ISLAMABAD, March 8: Indus Motors Company (IMC) has enhanced the prices of all the models of Cuore and Corolla diesel by Rs10,000 and Rs20,000, respectively, despite the withdrawal of 2.5 per cent withholding tax.

The IMC officials said that the cost of raw materials kept mounting due to the appreciating value of Japanese yen forcing the company to jack the price of Cuore CL to Rs402,000 from Rs392,000; Cuore CL CNG to Rs444,000 from Rs434,000; Cuore CX to Rs464,000 from Rs454,000; Cuore CX Auto to Rs469,000 from Rs459,000 and Cuore CX CNG to Rs499,000 from Rs489,000.

Similarly, the price of Corolla diesel model 2.ODSE has been enhanced to Rs1,175,000 from Rs1,155,000 and Corolla 2.ODSN to Rs1,339,000 form Rs1,319,000, a private news channel reported on Saturday. All Pakistan Motor Dealers Association Chairman H. M. Shahzad said that the Rs10 million per day income from the 2.5 per cent withholding tax had been withdrawn in the interest of the country.—APP