ISLAMABAD: Parliamentary body on Thursday asked the car manufacturing companies to provide details of car booking on full and partial payment besides period of car supply to purchasers during the last five years.
These companies have looted general public, keep people money in banks and supply the cars after several months. This was discussed in Senate Standing Committee on Industry and Production with Senator Mushahidullah Khan in chair.
The committee took up the issue of Senator Zahid Khan’s question, in which he said he had paid full amount for purchase of a car from a company but later the company demanded Rs 15,000 extra money. He claimed it was totally against the world principles to charge a person after full payment. The senator demanded not only to him but all car purchasers in 2011 should be returned the extra amount along with bank interest on it.
Members of the committee were of the view these companies were looting the people and when the government allowed the import of used cars then they bring down prices of their cars.
There is no one to regulate these car-manufacturing companies, who at their own increase prices and delayed the delivery of cars for several months. Senator Ilyas Bilour termed it totally against the ethics of any business by taking full amount in advance and then demands extra money at the time of delivery.
Secretary Ministry of Industries and Production told the Committee there was no such body to regulate the price determination mechanism of these car- manufacturing companies as they set it on their own.
However, he said they were controlled to some extent through imposition of taxes and changes in policy on import of used cars.
A representative of car manufacturing company informed the Committee they have their own price determination policy along with some conditions i.e imposition of government taxes and fluctuation in Pakistan currency. Whenever there are change in these two, these are passed on to the purchasers. He said Indus Motors Company has recently reduced car prices due to decrease in value of US dollar. The representative informed the Committee cars were being delivered to customer within 15 days for the last two years and the booking in Indus Motors Company has been made on partial payment. The new model cars will be introduced in July in the market. The new model introduction decision was taken globally after some time.
However, the Committee directed the Ministry of Industry and Production to provide details of total sales, partial and full payment of cars during last five years from all car-manufacturing companies.
The Committee asked the Federal Board of Revenue and officials of Ministry of Finance to brief the Committee about double taxation of companies operating in Export Processing Zone (EPZ) Karachi.
General Manager Export Processing Zone Authority (EPZA) Shahida Qaisar briefing the Committee said industrial units operating in EPZ Karachi were confronting the problems of double taxation. She informed the Committee EPZs established in other parts of the country were not success story due to withdrawing facilities.
Senator Sardar Fateh Muhammad Muhammad Hassani told the Committee EPZ Saindak officials were involved in alleged corruptions and demanded enquiry. Secretary Ministry of Industry and Production told the Committee he would conduct an enquiry and submit the report to the Committee.
Managing Director Utility Stores Corporation of Pakistan briefed the Committee about Ramazan Package worth Rs 2 billion and details of subsidy provided on daily useable items.
ISLAMABAD: Since the 1980s when the “new” free market economics kicked in, there has ...