10 percent cut in taxes for car makers suggested:

10 percent cut in taxes for car makers suggested:




The Ministry of Industries and Production has recommended 10% r
eduction in taxes for local car manufacturers, to be considered by
the ECC. Automobile production has come to a halt with local car
sales plunging by 51% at 19,066 units in the Q1’09. Among major
players, massive drop was witnessed in INDU's sales units with 64%
decline at 4,659 units that is followed by PSMC which registered
48% decline in sales volume over the same period of FY’08.
This could provide support to the ailing auto sector due to weakening
demand. There are, however, reports that FBR is unwilling to give
any concession to the auto sector with the argument that if the
government accommodates one sector all industries would also demand
the similar concessions in which case the sector may end up not
receiving any relief.