Export sector status sought for vending industry
Auto parts body asks govt for import deletion of industrial parts through PPP
LAHORE:
Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) has urged the government to give export industry status to the local vending industry, which is fully capable of contracting the trade deficit not only through enhancing exports but also controlling imports through import deletion of industrial replacement parts.
In a letter written to Federal Minister for Industries and Production Hammad Azhar, the association has asked the government that there is a possibility of “import deletion” of industrial replacement parts, in addition to the automotive parts, through public-private partnership.
Ban on tractor parts import urged
Business
February 14, 2021
LAHORE: The Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) has stressed the need to restrict the import of those parts, which are being manufactured in the country, a statement said on Saturday.
PAAPAM Senior Vice Chairman Abdur Razzaq Gauhar said that under-invoicing and the low valuation of imports have been hitting the industry hard, it added.
The low valuation of tractor parts imports has adversely affected sales tax, withholding tax, Customs duty, and federal excise duty and the major reason for less revenue collection is the absence of a foolproof mechanism for accurate assessment of duties and taxes at the import stage.
Auto sector seeks scrappage policy
Industry players label policy imperative for growth of sector
KARACHI:
Following an official announcement in India about the new vehicle scrappage policy to tackle the issue of air pollution, Pakistan’s auto sector has also demanded an auto scrap policy.
Countries introduce the scrapping policy to decide the life of vehicles; how old vehicles should be to protect the environment and accelerate the auto market, said Pakistan Electric Vehicles Manufacturers Association (PEVMA) Chairman Sabir Shaikh while talking to
The Express Tribune.
The Indian automobile industry has been struggling with a severe sales slowdown since 2019 - and the pandemic brought it to a screeching halt, said The Pioneer (Lucknow, India) Executive Director News Biswajeet Banerjee in comments given to The Express Tribune.
Level playing field sought for makers of tractor parts
PAAPAM says low valuation of imports has affected manufacturers
LAHORE:
The Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) has stressed the need for providing a level-playing field to the tractors’ auto parts manufacturers. It has called for restricting import of parts which are being manufactured in the country, as under-invoicing and low valuation of imports have been hitting the industry hard.
In a statement issued on Saturday, PAAPAM Senior Vice Chairman Abdur Razzaq Gauhar invited the attention of the Federal Board Revenue (FBR) cChairman towards this issue.
He said undervaluation of imports by the customs authorities are turning the country into a trading hub by favouring commercial importers on one hand but on the other hand, it is affecting collection of federal taxes at the import stage.
Belarus seeks JVs in auto sector
Honorary consul says business-tobusiness exchanges can lift bilateral ties
PHOTO: REUTERS
ISLAMABAD:
Pakistan should diversify its export destinations and enhance the number of its markets from just a few mainstream countries, said Belarus Honorary Consul Walid Mushtaq.
Talking to members of the Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) on Friday, he assured them of full cooperation in arranging meetings between Pakistani auto parts makers and their Belarusian counterparts.
He pointed out that Belarus enjoyed an ideal geographical location and the European country earned modest revenue from cargo services.
Effective business-to-business exchanges between the two nations could lift bilateral ties, he said.