Govt may now handle car prices in Pakistan and its reason is a continuous hike in car prices by the companies. GOVT give tax reductions to companies to reduces their prices and they did.
After few months companies again increase their prices on that GOVT put themself into that matter and write a letter to the Engineering Development Board (EDB) which is under the Ministry of Industries and Production.
The government has very recently given significant tax concessions to automobile manufacturers in order to make cars affordable for the public.
While the car manufacturers reduced their prices following the grant of these concessions, it now appears that they intend to increase prices even though it has been only a few weeks since the concessions were granted, and despite the fact that there has been no increase in costs of production.Ad
This situation is clearly unacceptable, and the government may have no recourse but to initiate regulatory measures, which may include fixation of prices under the Price Control and Prevention of Profiteering and Hoarding Act, 1977.
You are, therefore, directed to instruct automobile manufacturers to provide their costing structures failing which, price fixation proceedings would need to be carried out unilaterally.Letter says
EDB ask companies to share their manufacturing and cost price and justify the price hike.
Car prices in Pakistan is not under control when the demand increase companies increase their car prices again.
This is a very shameful act by the companies to increase prices again without any reason because mostly they have vendors from Pakistan.
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