Summary Naveed Qamar says the additional regulatory duty on luxury goods ended on March 31
KARACHI Web Desk) - Car dealers will have to face strict action if they fail to reduce prices of imported vehicles after the removal of regulatory duty, Federal Commerce Minister Syed Naveed Qamar warned on Saturday.
He urged the car dealers to reduce the prices of imported vehicles as the additional regulatory duty on luxury goods had ended on March 31.
Talking to reporters, the minister emphasized that the staff-level agreement (SLA) would be finalized with the International Monetary Fund (IMF) before the upcoming budget. He said restrictions on the opening of letters of credit (LCs) would be lifted after the staff-level agreement.
Qamar further said with the reopening of LCs, raw materials will be easily available for the export-oriented industries.
