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.

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

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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.

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

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