As the prices of cars have skyrocketed in the country for, what the automotive industry claims, devaluation of currency, freight price hike etc. the government has decided to carry out forensic audit/analysis of the price hike.
During a meeting of the monitoring committee for automobile industry presided over by Federal Secretary for Industries & Production Jawad Malik, the committee has expressed concerns over massive price hikes in the past 5-6 months and safety features in automobiles, sources informed.
According to insiders, though the representatives of the auto industry tried to convince the committee regarding price hike citing the reasons of devaluation of rupee against dollar and other reasons, the committee decided to carry out the forensic audit through a private firm.
As per officials the meeting was attended by representatives from automakers, Pakistan association of automotive parts and accessories manufacturer (PAAPAM), Engineering Development Board (EDB), Federal Board of Revenue (FBR), State Bank of Pakistan (SBP), Competition Commission of Pakistan (CCP) and Ministry of Science & Technology.
The meeting had earlier sought factors and justification for recent price hikes in different models of cars across the board.
According to a representative of car manufacturers/assemblers, in the meeting it was informed that the recent price hike is due to dollar rate (USD to PKR), increase in freight charges and raw materials including operational cost. “...
Read Full Story: https://profit.pakistantoday.com.pk/2022/03/31/govt-to-conduct-forensic-audit-of-car-prices/
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
