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Category: Automotive

PkRevenue provides stories related to automotive industry. We focus on auto policy of Pakistan. The coverage also includes sales of domestic manufacturing.

  • Customs to auction NDP vehicles on June 8, 2022

    Customs to auction NDP vehicles on June 8, 2022

    KARACHI: The Collectorate of Customs, Hyderabad has announced an auction of a huge lot of confiscated non duty paid (NDP) motor vehicles, which will be held on June 08, 2022.

    The collectorate will auction the following non duty paid motor vehicles:

    READ MORE: Lahore Customs to auction vehicles on May 26, 2022

    01. Toyota Hiace Van bearing registration number JF-6435, chassis No. RZH183-0002755, HP-2440, Model 2003.

    02. Toyota Mark – X car, registration No. AAP-240, Chassis No. GRX121-1002004, HP-3000CC, Model 2004.

    03. Toyota Axio Car, Registration No. AAJ-661, Chassis No. ZRE142-6007091, HP-1800CC, Model-2007.

    04. Toyota Vitz Car, Registration No. ARF-723, Chassis No. JTGKW123203005557, HP-1300CC, Model 2004.

    READ MORE: Gwadar Collectorate auctions motor cars on May 23

    05. Toyota Corolla XLI Car, Chassis No. NZE120-6023637, 1300CC manual transmission Model 2005 (but physical alter engine automatic 1800CC) with fake registration No. AVP-916 (accidental).

    06. Passo Car, Registration No. AVW-243, Chassis No. KGC10-0040164, HP-1000CC, Model 2004.

    07. Passo Car, Registration No. AWX-953, Chassis No. KGC10-0092870, HP-1000CC, Model 2005.

    08. Swift Car, without registration number, Chassis No. ZC11S-186500, HP 1300CC, Model 2007.

    READ MORE: Multan customs auctions smuggled diesel oil on May 18, 2022

    09. Passo Car, Registration No. AXE-010, Chassis No. KGC15-0002296, HP 1000CC, Model 2004.

    10. Passo Car, Registration No. AFY-971, Chassis No. KGC10-0287554, HP 1000CC, Model 2009.

    11. Passo Car, Registration No. AYK-651, Chassis No. QNC10-0002982, HP-1300CC, Model 2004 (as per inventory).

    12. Alto Car, Registration No. BQR-915, Chassis No. HA36V-119134, HP-650CC, Model 2016.

    13. Aqua Car Registration No. BEF-672, Chassis No. NHP10-6082313, HP 1499CC, Model 2012.

    READ MORE: Peshawar Customs auctions motor cars on May 16, 2022

    14. Alto Car, Registration No. BNQ-199, Chassis No. HA36V-113529, HP 660CC, Model 2015.

    15. Swift Car, Registration No. AZK-119, Chassis No. ZC11S-183094, HP 1300CC, Model 2006.

    16. Swift Car, Registration No. AAJ-026, Chassis No. ZC71S-403925, HP 1300CC, Model 2007.

    17. 12 Wheeler Hino Dumber Truck with concealed tank, Registration No. TAC-496, Chassis No. JMEFY2PUKM-001111, HP395CC, Model 2000.

    18. Suzuki Alto Car, Registration No. BSN-883, Chassis No. HA36S-246178, HP-660CC, Model 2015.

    19. Passo Car, Registration No. AZA-018, Chassis No. QNC10-0015859, HP-1000CC, Model 2004.

    20. Toyota Royal Crown Saloon Car, Registration No. BKT-817, Chassis No. GRS182-0009938, HP 2994CC, Model 2004.

    READ MORE: Pakistan considers fixing locally assembled car prices

    21. Suzuki Alto Car, Registration No. BNJ-621, Chassis No. HA36S-287848, HP-658CC, Model 2016.

    22. Toyota Surf Jeep, Registration No. BG-1374, Chassis No. RZN185-9034469. HP 2700, Model 2000.

    23. Suzuki Swift Car, Registration No. AWT-911, Chassis No. ZC71S-475538, HP 1300CC, Model 2011.

    24. Toyota Mark-X Car, Registration No. AML-035, Chassis No. GRX121-1008255, HP 3000CC, Model 2006.

  • Honda Cars declares 40% surge in annual profit

    Honda Cars declares 40% surge in annual profit

    KARACHI: Honda Atlas Cars (Pakistan) Limited announced a sharp growth in profit by 40 per cent to Rs2.51 billion for the year ended March 31, 2022.

    According to financial results submitted to Pakistan Stock Exchange (PSX) on Thursday, the annual profit after tax of the company was Rs1.79 billion in the preceding year.

    The sales of the company increased to Rs108 billion for the year ended March 31, 2022 as compared with Rs67.36 billion in the preceding year. Meanwhile, cost of sales recorded at Rs102.47 billion for the year under review as compared with Rs63.58 billion in the preceding year.

    READ MORE: Lucky Cement announces Rs26.53 billion 9M profit

    The gross profit of Honda Atlas Cars (Pakistan) Limited also recorded a sharp increase to Rs5.58 billion for the year ended March 31, 2022 as compared with 3.7 billion in the preceding year.

    A significant increase has been seen in administrative expenses for the year under review. The administrative expenses of the company increased to Rs1.06 billion for the year ended March 31, 2022 as compared with Rs824 million in the last year.

    READ MORE: BankIslami registers 34% profit after tax during 1Q22

    The company declared a final cash dividend Rs7 per share (70 per cent) was recommended for the year ended March 31, 2022 as compared with Rs4.52 per share (45.2 per cent) declared last year.

    Honda Cars has not declared any bonus or right shares for the year ended March 31, 2022.

    READ MORE: Pak Suzuki Motor declares Rs2.68 billion annual profit

  • Lahore Customs to auction vehicles on May 26, 2022

    Lahore Customs to auction vehicles on May 26, 2022

    LAHORE: The Directorate of Intelligence and Investigation (I&I) customs, Lahore announced auction of motor vehicles to be held on May 26, 2022 at State Warehouse, of the directorate, Allama Iqbal Town, Lahore.

    The directorate will present following vehicles for the auction:

    READ MORE: Gwadar Collectorate auctions motor cars on May 23

    01. Toyota Camry Car, Model-2010, Chassis No. MR053FK4000013686, Colour White, ABT-774

    02. Honda Civic Hybrid Car, Model 2007, Chassis No. JHMFD36207S211415 Colour: Silver

    03. Audi A8 Car, Chassis No. WAUZZZ4E29N013000, Colour- Black, Model-2009, Registration No. ART-956/Sindh

    04. Toyota Mark-X Car, Chassis No. GRX121-1000149, Model-2004, Colour: Silver PD-257 /ICT

    READ MORE: Multan customs auctions smuggled diesel oil on May 18, 2022

    05. Mercedes Benz Car, Model 2006, Chassis No. WDB2110652A125731, Colour-White, AWV-001

    06. BMW X5 Jeep, Registration Plate No.SS-765 (Islamabad), Chassis No.WBAFE42010LK99381, Model 2009, Colour Black

    07. BMW Car 750LI, Registration Plate No.LEE-13-3450 Chassis No. WBAHN82010DE37384, Model 2005, Colour Silver

    08. Nissan Ceferio Car, Registration Plate No.LEE-07-1, Chassis No.GF50-054361, Model 2003, Colour Black

    READ MORE: Peshawar Customs auctions motor cars on May 16, 2022

    09. Honda Accord Car, Registration Plate No.LWP-91, Chassis No.CL7-3201974, Model 2006, Colour Silver

    10. Honda Accord Car, Registration Plate No.LED-07-3756, Chassis No. CL7-3003318, Model 2002, Colour Silver

    11. Honda Accord Car, Registration No.LRX-8411, Chassis No.CF3- 1200586, Model 2000, Colour Silver

    12. Toyota Hiace Van, Registration No.LES-17-333, Chassis No.TRH200-0083247, Model 2008, Colour Silver

    13. Mercedez Benz Car, Model 2006, Chassis No. WDD2211562A164356, Colour-White, LD-022, Engine Capacity 3500CC

    READ MORE: Pakistan considers fixing locally assembled car prices

    14. Used Toyota Surf, Model-2003, Chassis No. RZN2150002195, ABY-396(Islamabad)

    15. Audi A4 Car, Model-2013, Chasssi No. WAUZZZ8K6DA254235, AFR-022

    16. Honda Insight Hybrid Car, Model 2009, Chassis No. ZE2-1113281, Colour-White, LEA-14-8990

    17. Toyota Aqua Car, Model 2012, Chassis No. NHP10-6086977, Colour: White BFP-930/Sindh

  • SBP cuts car loan tenure to three years

    SBP cuts car loan tenure to three years

    KARACHI: The State Bank of Pakistan (SBP) on Tuesday reduced the tenure for car loan to three years from five years in order to curb demand to support balance of payment and devaluation of Pakistan Rupee (PKR).

    The SBP issued Circular No. 19 of 2022 to amend prudential regulations related to consumer financing.

    READ MORE: SBP makes permission must for import of mobile phone, cars

    The central bank amended the Regulation No. 11 to reduce the maximum tenure for car financing. According to the circular, the maximum tenure of auto financing has been reduced to three years from five years for vehicles above 1000CC engine displacement and to five years from seven years for vehicles up to 1000CC engine displacement and locally assembled / manufactured electric vehicles.

    However, the regulatory treatment of Roshan Apni car product communicated earler to Roshan Digital Account (RDA) participant banks will continue to remain effective.

    READ MORE: Car sales register 50% growth in 10MFY22

    It is pertinent to mention that the government last week imposed a complete ban on import of luxury and non-essential items. The import of cars in Completely Built Unit (CBU) has also been banned under the new policy. The import of Completely Knocked Down (CKD) cars are still allowed for imports but with certain restrictions.

    The SBP on May 20, 2022 issued a circular imposing restrictions for making import payments.

    The SBP said it has been decided that banks, with immediate effect, shall seek prior permission from Foreign Exchange Operations Department (FEOD), SBP-BSC before initiating transactions for import of goods listed in the enclosed Annexure, subject to following conditions:

    READ MORE: Peshawar Customs auctions motor cars on May 16, 2022

    The above requirement shall be applicable for all import transactions initiated by Authorized Dealers through (i) issuance/ amendment of letter of credit; (ii) registration/ amendment of contract; (iii) making advance payment; (iv) authorizing transactions on open account or collections basis;

    The above requirement shall not be applicable on import transactions initiated by the Authorized Dealers on or before the date of issuance of this circular letter;

    The banks may approach Director, FEOD, SBP-BSC, Head Office, Karachi, along with appropriate documents and its recommendation on a case to case basis;

    The banks shall be required to suitably amend the importer’s bank profile in Pakistan Single Window to ensure that the aforementioned import transaction shall not be initiated on open account basis without prior permission from State Bank.

    READ MORE: SBP increases interest rate by 150bps to 13.75%

    It is noteworthy that the SBP has also increased the key policy rate to 13.75 per cent in an announcement on May 23, 2022. The rise in interest rate will increase the cost of loans which will subsequently reduce the demand for car loans.

  • Gwadar Collectorate auctions motor cars on May 23

    Gwadar Collectorate auctions motor cars on May 23

    GWADAR: Collectorate of Customs (Enforcement), Gwadar has announced auction of motor cars to be held on May 23, 2022 at state warehouse godown, Gwadar.

    The collectorate announced auction of following motor vehicles:

    01. Zamyad Pickup Model nil, Chassis No. NAZDL104TD-0068010

    02. Zamyad Pickup Model nil, Chassis No. NAZPL140BJ-0501530

    03. Zamyad Pickup Model nil, Chassis No. NAZPL140TB-N272445

    04. Zamyad Pickup Model nil, Chassis No. NAZPL140BJ-0503834

    05. Toyota Stout Pickup Model 1983, Chassis No. RK110-601814

    06. Toyota Pickup S/cabin Model 1984, Chassis No. YN55-0017594

    07. Toyota Pickup S/cabin Model 1984, Chassis No. YN55-0018440

    08. Toyota Hilux Surf Model 2003, Chassis No. RZN215-0008039

    09. Toyota Hilux Surf Model 2007, Chassis No. GRN215-8109082

    10. Toyota Hilux Surf Model 1999, Chassis No. RZN185-9030039

    11. Toyota Stout Pickup S/Cabin Model 1984, Chassis No. RK110-613912

    12. Toyota Corrolla Model 2005, Chassis No. NZE121-0371839

    13. Toyota Hilux Surf Model 1998, Chassis No. RZN185-0031909

    14. Toyota Premio Model 2008, Chassis No. NZT260-3038101

    15. Toyota Axio Model 2007, Chassis No. ZRE142-6008183

    16. Toyota Vitz Model 2004, Chassis No. SCP13-0030163

    17. Toyota Probox Model 2003, Chassis No. ZNE10-0101673

    18. Toyota Land Cruiser Pickup Model 1988, Chassis No. FJ75-0043421

    19. Toyota Land Cruiser Pickup Model 1988, Chassis No. FJ75-0074709

    20. Toyota Land Cruiser Pickup Model 1986, Chassis No. FJ75-0038226

    21. Toyota Land Cruiser Pickup Model 1988, Chassis No. FJ75-0075357

    22. Hino Truck Model 1994, Chassis No. FF3HJA-50180

    23. Toyota Land Cruiser VX 4X4 Model 1998, Chassis No. UZJI00-0015026

    24. Toyota Hilux D/Cabin Vigo Model 2005, Chassis No. MR0FZ29G701508652

    25. Toyota Land Cruiser Pickup Model 1986, Chassis No. FJ75-0040747

    26. Zamyad 24 NIB Pickup S/cabin Model nil, Chassis No. NAZPL140TB0319839

    27. Zamyad 24 NIB Pickup S/cabin Model nil, Chassis No. NAZPL140TBM231212

    28. Toyota Land Cruiser Pickup Model 1986, Chassis No. FJ75-0043119

    29. Toyota Premio Model 2003, Chassis No. ZZT245-0018897

    30. Toyota Land Cruiser Prado Model 1995, Chassis No. KZJ71-0004062

    31. Toyota Corolla Model 2001, Chassis No. NZE121-3042485

    32. Toyota Hilux Pickup S/Cabin Model 1983, Chassis No. RN40-156765

    33. Toyota Hilux Pickup S/Cabin Model 1983, Chassis No. RN40-0155452

    34. Toyota Hilux Pickup S/Cabin Model 1983, Chassis No. RN40-0168695

    35. Toyota Surf Model 1998, Chassis No. UZN185-0078719

    36. Zamyad Pickup 24 NIB S/cabin Model nil, Chassis No. NAZPL140TH-NE06909

    37. Toyota Stout Pickup S/Cabin Model 1994, Chassis No. RK110-611811

    38. Hino Oil Tanker Model 1993, Chassis No. FGIHKA-50027

    39. Hino Bus Model 2006, Chassis No. AKIJMKA-10688

    40. Hino Bus Model nil, Chassis No. AKIJRKA-177243

    41. Hino Truck Model 1999, Chassis No. FGIJPC-10097

    42. Hino Truck Model 1996, Chassis No. FFIJMB-10343

    43. Hino Bus Model 1990, Chassis No. 174-41105

    44. Hino Oil Tanker Model 1995, Chassis No FDIJ-LB-11042

    45. Hino Truck Model 2013, Chassis No. FMIJNPD-19364

    46. Hino Truck Model 2005, Chassis No. FD8JLF-11877

    47. Hino Bus Model nil, Chassis No. AKIJ-11063

    48. Hino Oil Tanker Model 1997, Chasses No. FGIJKB-10162

    49. Hino Oil Tanker Model nil, Chassis No. FGIJPB-10349

    50. Zamyad Pickup Model nil, Chassis No. CSG28PRZ883427E01

    51. Zamyad Pickup Model nil, Chassis No. NAZPL140TH0485804

    52. Toyota Hilux Surf SSr-X (05 door) Model 1993, Chassis No. KZN130-9048371

    53. Hyundai Shehzore Model nil, Chassis No. PHONSMXR 37173

    54. Mini Truck Master Forland Model nil, Chassis No. MMC-02-03351

    55. Toyota Land Cruiser Pick up Model 1983, Chassis No. FJ 45-367102

    56. Toyota Land Cruiser Pick up Model 1986, Chassis No. FJ-75-0036340

    Peshawar Customs auctions motor cars on May 16, 2022
  • SBP makes permission must for import of mobile phone, cars

    SBP makes permission must for import of mobile phone, cars

    KARACHI: The State Bank of Pakistan (SBP) has imposed condition for payment on import of mobile phones and motor cars.

    The SBP issued a circular related import goods making it mandatory for banks to take prior permission for releasing funds for import of motor cars, mobile phones and other machinery.

    READ MORE: SBP may raise policy rate by 100bps to 13.25%

    In this regard the SBP informed the banks about Chapter 13 of the Foreign Exchange Manual relating to payments against import of goods.

    The SBP decided that with immediate effect, the banks would require prior permission from Foreign Exchange Operations Department (FEOD), SBP-BSC before initiating transactions for import of goods listed in the enclosed Annexure, subject to following conditions:

    READ MORE: Banks increasing dollar rates; FAP tells Prime Minister

    The above requirement shall be applicable for all import transactions initiated by Authorized Dealers through (i) issuance/ amendment of letter of credit; (ii) registration/ amendment of contract; (iii) making advance payment; (iv) authorizing transactions on open account or collections basis;

    The above requirement shall not be applicable on import transactions initiated by the Authorized Dealers on or before the date of issuance of this circular letter;

    Authorized Dealers may approach Director, FEOD, SBP-BSC, Head Office, Karachi, along with appropriate documents and its recommendation on a case to case basis;

    READ MORE: SBP governor assumes charge of Asian Clearing Union

    Authorized Dealers shall be required to suitably amend the importer’s bank profile in Pakistan Single Window to ensure that the aforementioned import transaction shall not be initiated on open account basis without prior permission from State Bank.

    All other instructions on the subject shall remain unchanged. Authorized Dealers are advised to bring the same to the knowledge of all the concerned and ensure meticulous compliance of the above & other applicable regulations on the subject. Authorized Dealers are especially instructed to bring these instructions to the knowledge of their customers and advise them to approach the bank before initiation of import transaction of any item covered under this circular letter.

  • Car sales register 50% growth in 10MFY22

    Car sales register 50% growth in 10MFY22

    KARACHI: The sales of domestic manufactured cars have registered a growth of 50 per cent during first ten months (July – April) 2021/2022.

    However, auto sales plummeted by 18 per cent Month on Month (MoM) to 22,370 units during April 2022 on the following grounds; increased car prices; and increased cost of financing, analysts at Arif Habib Limited said.

    READ MORE: Peshawar Customs auctions motor cars on May 16, 2022

    Albeit, the momentum remained positive on a Year on Year (YoY) basis, up 30 per cent mainly on the back of resumption of pre Covid level economic activities along with launch of new models (Swift, Civic, City), consumer’s anticipation of further price hike, given the company’s kept on hinting massive surge in cost of production and substantial Pak Rupee (PKR) depreciation which has put margins under pressure. This took sales during first ten months of current fiscal year to 227,981 units, up 50 per cent YoY.

    Engine capacity 1300cc segment and above remained the star performer, up 34 per cent YoY, given resumed sales of new Honda Civic Xi and Swift 4th generation.

    READ MORE: Pakistan considers fixing locally assembled car prices

    During April 2022, sales in 1000cc segment went up by 29 per cent YoY. Major contributors to it remained Cultus (+33 per cent YoY) followed by Wagon R (+26 per cent YoY).

    Sales in below 1000cc segment maintained it’s positive momentum during the month (+22 per cent YoY) because of higher prices of imported small cars, and given this segment is being subjected to relatively lower sales tax (12.5 per cent) and also due to the ability of lower to middle income group to obtain full financing against it.

    READ MORE: OICCI suggests duty cut on locally manufactured cars

    During April 2022, sales of Indus Motors went up by 8 per cent YoY to 5,775 units. Albeit 18 per cent MoM decline was observed given lower sales of Corolla/Yaris (-24 per cent YoY).

    The sales of Pak Suzuki during April 2022 grew by 47 per cent YoY to 12,639 units on the back of resumed sales of new Suzuki Swift 4th generation. Albeit, sales plunged by 16 per cent MoM on the back of increased car prices and consumer’s anticipation of further price hike which caused them to book cars as soon as possible.

    READ MORE: Return filing be made mandatory for account holders

    Honda Cars sold 2,629 units during April 2022; up by 15 per cent YoY amid launch of new models of Civic and City. Albeit sales declined by 28 per cent MoM amid increased prices.

    The sales of tractors stood at 4,848 units during April 2022, (+8 per cent YoY). However, sales went down by 14 per cent on a MoM basis. AGTL posted relatively higher market share (54 per cent) as compared to MTL.

  • Peshawar Customs auctions motor cars on May 16, 2022

    Peshawar Customs auctions motor cars on May 16, 2022

    PESHAWAR: Collectorate of Customs (Enforcement), Peshawar has announced auction of motor cars to be held on May 16, 2022 at state warehouse godown, Peshawar.

    The collectorate announced auction of following motor vehicles:

    01. Mercedes Benz (Bullet Proof) Model 1982, Chassis No. WDB-12603312037551

    02. Toyota Corolla Car Model 1987 (As per Website), Chassis No. CE90-3002413

    03. Toyota Hilux Surf Model 1993 (As per Website), Chassis No. LN130-7044977

    READ MORE: Pakistan considers fixing locally assembled car prices

    04. Toyota Hilux Surf Model 1991 (As per Website), Chassis No. LN130-0086048

    05. Toyota Hilux Surf Model 1992 (As per Website), Chassis No. LN130-7013150

    06. Toyota Crown Car Model 2000 (As per Website), Chassis No. GS171-0001109

    07. Toyota Hilux Surf Model 1997 (As per Website), Chassis No. LN147-0001826

    08. Toyota Hilux Surf Model 1990 (As per Website), Chassis No. LN130-0018395

    09. Toyota Hilux Pick Up Model 1993 (As per Website), Chassis No. LN130-7046749

    READ MORE: OICCI suggests duty cut on locally manufactured cars

    10. Toyota Hilux Surf Model 1993 (As per Website), Chassis No. LN85-0120174

    11. Toyota Hilux Surf Model 1990 (As per Website), Chassis No. LN85-0034633

    12. Toyota Hilux 4Runner Pickup Model 1996 (As per Website), Chassis No. LN106-0146897

    13. Toyota Pick Up S/Cabin Model 1993 (As per Website), Chassis No. LN85-0120634

    14. Toyota Corolla Car Model 1994 (As per Website), Chassis No. AE100-3215668

    15. Toyota Premio Car Model 2002 (As per Website), Chassis No. ZZT240-0020192

    16. Toyota State Car Model 1990 (As per Website), Chassis No. CE96-0106867

    17. Toyota State Car Model 1990 (As per Website), Chassis No. CE96-0089577

    18. Toyota State Car Model 1988 (As per Website), Chassis No. CE90-0023670

    19. Toyota Twoance Model 1990 (As per Website), Chassis No. CR30-5071954

    READ MORE: Return filing be made mandatory for account holders

    20. Toyota Pick Up Model 1985 (As per Website), Chassis No. LN56-0034679

    21. Toyota Pick Up Model 1988 (As per Website), Chassis No. LN51-0013906

    22. Toyota State Car Model 1993 (As per Website), Chassis No. CE106-0047961

    23. Toyota Corolla Car Model 1987 (As per Website), Chassis No. EE90-5007972

    24. Toyota State Car Model 1990 ( As per Website), Chassis No. CE96-0106153

    25. Toyota Corolla Car Model 1992 (As per Website), Chassis No. CE100-3025153

    26. Toyota Estate Car Model 1997 (As per Website), Chassis No. CE100-0073091

    27. Toyota Corolla “X” Car Model 2005 (As per Website), Chassis No. NZE121-0358052

    28. Toyota Corolla “G” Car Model 2003 (As per Website), Chassis No. NZE121-3189548

    29. Toyota Premio Car Model 2003 (As per Website), Chassis No. NZT240-5007085

    READ MORE: Unjustified audit notices annoy taxpayers

    30. Toyota Corolla Car Model 1995 (As per Website), Chassis No. CE110-5001735

    31. Toyota Rush Jeep Model 2007 (As per Website), Chassis No. J200E-0017143

    32. Toyota Fielder “X” Car Model 2002 (As per Website), Chassis No. NZE121-0178782

    33. Suzuki Alto Car Model 2005 (As per Website), Chassis No. HA24V-112365

    34. Toyota Land Cruiser Model 1991 (as per Website), Chassis No. LJ78-0009228 (Abbotabad)

    35. Toyota Corolla Car Model 1973 (As per documents), Chassis No. RT81-053350

    36. Mitsubishi Motor Car Model 1982 (As per documents), Chassis No. A171A-8024009

  • Customs auctions confiscated vehicles on May 11, 2022

    Customs auctions confiscated vehicles on May 11, 2022

    MULTAN: Directorate of Customs Intelligence and Investigation, Multan has announced auction of confiscated vehicles to be held on May 11, 2022 at Customs Dry Port, near Sher Shah Bypass, Multan.

    The announced auction of following vehicles:

    READ MORE: Pakistan considers fixing locally assembled car prices

    01. Hino Truck HTV, Model 1994, registration no. SBA-775, Chassis No. FF176-18107 (manually punched).

    02. Hummer H3 Jeep, Model 2003, registration no. LEE-7444, Chassis No. 5GTDN136768328080.

    03. Suzuki Alto Car, Model 2001, registration no. ANR-771 / Sindh, Chassis No. HA12S-610374.

    04. Toyota Prius Car, Model 2009, registration no. ZY-442/ISB, Chassis No. ZVW30-1012665.

    05. Toyota Mira Car, Model 2009, registration no. AYD-761/Sindh, Chassis No. L275S-0006309.

    READ MORE: OICCI suggests duty cut on locally manufactured cars

    06. Suzuki Swift Car, Model 2009, registration no. BCU-338/Sindh, Chassis No. ZC71S-477228.

    07. Honda Civic Car, Model N/A, registration no. NF-004 / Islamabad, Chassis No. JHMFD46208S202263.

    08. Honda Insight Car, Model 2010, registration no. zZ-998 / ICT, Chassis No. ZE2-1201090

    09. Suzuki Swift Car, Model 2011, registration no. RE-527/ICT, Chassis No. JSAFZC82S00107384.

    10. Toyota Vitz Car, Model 2008, registration no. VC-294. Chassis No. SCP90-5097652.

    READ MORE: Return filing be made mandatory for account holders

    11. Toyota Corolla Car, Model 2002, registration no. AJX-030/Sindh, Chassis No. NZE121-3201700.

    12. Toyota Aqua Hybrid Car, Model 2014, registration no. LEB-17-2328, Chassis No. NHP10-2378804.

    13. Toyota Vitz Car, Model 2007, registration no. ADY-910/ICT, Chassis No. SCP90-0036782.

    14. Toyota Fielder Car, Model 2004, registration no. VE-112, Chassis No. NZE121-0307673.

    15. Toyota Hilux Surf, Model 1994, registration no. WAG-496/Quetta, Chassis No. LN130-7024272.

    The directorate said the vehicles may be inspected before two days of the auction date.

    READ MORE: Unjustified audit notices annoy taxpayers

  • Pakistan considers fixing locally assembled car prices

    Pakistan considers fixing locally assembled car prices

    ISLAMABAD: The government of Pakistan is considering to fix prices of locally assembled cars in to order discourage abnormal price hike.

    According to an official statement on Monday, apropos frequent price hike of locally manufactured and assembled automobiles in past few months.

    READ MORE: OICCI suggests duty cut on locally manufactured cars

    Spokesperson has expressed concern over price surge and has taken a serious view about the frequent price increases by local automobile manufacturers/ assemblers.

    READ MORE: Return filing be made mandatory for account holders

    The spokesperson said that the situation was unacceptable, and the government might consider to initiate regulatory measures which may include fixation of prices under the Price Control Prevention of Profiteering and Hoarding Act, 1977.

    READ MORE: Unjustified audit notices annoy taxpayers

    Furthermore, he said that the cost structure and justification of price increase had been sought from local manufacturers and assemblers.

    READ MORE: Foreign investors demand inter-adjustment of tax refunds