Overseas Pakistanis Allowed To Inspect Used Cars Under New Import Policy

Pakistan has agreed to accept the conditions of World Trade Organisation (WTO) to restrict import of old cars.

Lahore (UrduPoint / Pakistan Point News – 16th January, 2018) The overseas Pakistanis have been allowed to inspect the used cars under the government’s new import policy.

Media reports said that Pakistan has agreed to accept the conditions of World Trade Organisation (WTO) to restrict import of old cars.

The condition has been imposed to secure investment in the automobile sector.

The report further states that the policy will promote new investment in auto-mobile sector. Moreover, the flow of old and smuggled cars will also be decreased.

Meanwhile, the Economic Coordination Committee has approved amending Import and Export Order 2016 and taxes and duties imposed on cars under personal gift scheme will be collected through Foreign Exchange.

The foreign exchange is arranged by Pakistani nationals themselves or the local recipient supported by a bank encashment certificate, showing the conversion of foreign remittance into local Currency.

The ECC allowed the import of used electric vehicles up to five-year-old under the personal baggage, transfer of residence and gift schemes meant for overseas Pakistanis.