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Used car imports set to resume - Newspaper - DAWN.COM

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Since early October 2017, almost 10,000 such vehicles have been stranded since the government changed the clearing rules and procedure."/></div> <figcaption class="media__caption ">Imported used cars await clearance at Karachi port in this file photo. Since early October 2017, almost 10,000 such vehicles have been stranded since the government changed the clearing rules and procedure.</figcaption> </figure> <div class="clearfix"></div> </div> </div> </div> <!-- ******** /template/header ******** --> <!-- ******** template/main ******** --> <div class="template__main clearfix modifier--open px-1 modifier--widedefault modifier--quote-center-narrow"> <!-- box/social --> <!-- box/content --> <div class="story__content pt-1 mt-1"><div style="display: none"></div><p class="">ISLAMABAD: Clearance of more than 10,000 used cars stuck at Karachi port since October is about to begin as the Commerce Ministry issued a notification withdrawing the new clearing procedure that had left the vehicles stranded.</p><p class="">SRO261 was issued on Friday, implementing a decision of the Economic Coordination Comm­ittee of the Cabinet doing away with the conditions introduced to minimise misuse of the facility.</p><p class="">On the recommendation of the State Bank of Pakistan, commerce ministry notified new rules for clearance of used imported cars which required that payment of duties and taxes on every vehicle must be made from a bank account controlled by the person shown as the importer under baggage and transfer of residence rules. </p><p class="">The ministry said it introduced the new provision to stop the misuse of these facilities by commercial importers of used cars. But the new rules left close to 10,000 cars stranded at the port because orders for them had been placed prior to the notification of the new rules.</p><p class="">The import of used cars are only allowed to overseas Pakistani under three schemes — transfer of residence, personal baggage and gift scheme.</p><p class="">After Friday’s notification, the provision of arranging foreign exchange remittance to pay the duties for the cars up to 1800cc will not apply. The bulk of car imports fall in this category. </p><p class="">But in the case 1800cc cars and above, the procedures will remain the same — payment of duties and taxes in foreign exchange by the importers from his/her own bank account. This means they still need to arrange customs duty through remittance.</p><p class="">A senior officer of commerce ministry told Dawn that the decision was taken to control outward remittance through informal channels. The commercial importers in Pakistan arrange passports of overseas Pakistanis and import car in their names. </p><p class="">The officer who is not willing to be named further said the decision was reversed following tremendous pressure from the vested interests involved in the commercial imports of these cars. </p><p class="">A tax official said that the Federal Board of Revenue is expecting to generate nearly Rs8 billion from payment of duty and taxes on these cars in the next few days. “We needed this money to reach closer to the revenue target for the current fiscal year”, the official added.</p><p class="">Ideally, import of used cars takes place under these three schemes individually. But, it is only on paper and the schemes are used extensively by commercial importers. Those cars are not supposed to be older than three years.</p><p class=""><em>Published in Dawn, February 24th, 2018</em></p> </div> </div> <!-- ******** /template/main ******** --> <!-- ******** template/footer ******** --> <div class="template__footer clearfix modifier--open px-1"> <div class="row no-gutters"> <div class="col-12 col-sm-10 col-sm-offset-1"> <div class="row no-gutters"> <div class="col-12 col-sm-11"> <div class="ml-0 ml-sm-6 px-0 px-sm-2"> <hr> <div class="row no-gutters"> <div class="col-12 col-sm-6"> </div> <div class="col-12 col-sm-6"> <div class="mt-2 mt-sm-0 clearfix social-container"> <!-- box/social --> <div class="social social--icon social--black social--flat social--facebook social--count float-left mr-1 "> <a onclick="return !window.open(this.href, 'Share on Facebook', 'width=640, height=536')" href="https://web.archive.org/web/20180224062031/https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.dawn.com%2Fnews%2F1391381&amp;display=popup&amp;ref=plugin" target="_blank"><span style="clip: rect(1px, 1px, 1px, 1px); height: 1px; overflow:hidden; position: absolute; white-space: nowrap; width: 1px;">Facebook Count</span><span data-fb-count-url="https%3A%2F%2Fwww.dawn.com%2Fnews%2F1391381"><span class="count"></span></span></a> </div> <div class="social social--icon social--black social--flat social--twitter float-left mr-1 "> <a onclick="return !window.open(this.href, 'Tweet', 'width=640, height=300')" href="https://web.archive.org/web/20180224062031/https://twitter.com/share?text=Used%20car%20imports%20set%20to%20resume&amp;url=https%3A%2F%2Fwww.dawn.com%2Fnews%2F1391381&amp;counturl=https%3A%2F%2Fwww.dawn.com%2Fnews%2F1391381" target="_blank"><span style="clip: rect(1px, 1px, 1px, 1px); height: 1px; overflow:hidden; position: absolute; white-space: nowrap; width: 1px;">Twitter Share</span></a> </div> <div class="social hidden-xs-down social--print social--icon social--black social--flat float-left mr-1"> <a href="https://web.archive.org/web/20180224062031/https://www.dawn.com/news/print/1391381">&nbsp;&nbsp;&nbsp;</a> </div> <div class="social social--email social--icon social--black social--flat float-left mr-1"> <a onclick="$('.mailer [name^=id]').val(1391381);$('.mailer').modal().open()" href="javascript:void(0)"></a> </div> <div class="mailer themodal themodal--centered" style="width:400px;height:260px;background:#fff"> <h3>Email</h3> <br/> <form accept-charset="utf-8" class="form-vertical emailer" onsubmit="javascript:$.post(this.action, $(this).serialize());$(this).html('Mail sent, thank you!');return false;" method="POST" action="https://web.archive.org/web/20180224062031/https://www.dawn.com/news/email/1391381"><input class="form-control" type="hidden" name="jscheck" value=""><div class="form-group"><label for="sender" class="control-label">Your Name</label><input class="form-control" id="sender" type="text" name="sender"></div><div class="form-group"><label for="to" class="control-label">Recipient Email</label><input class="form-control" id="to" type="text" name="to"></div><input class="form-control" type="hidden" name="id" value=""><input class="btn mt-2" type="submit" value="Email"><input class="form-control" type="hidden" name="_token" value=""></form> </div> <div class="social social--comment social--icon social--black social--flat social--label text--700 float-left mr-1"> <a href="#comments">0</a> </div> </div> </div> </div> <div class="row no-gutters"> <!--- 250 300 --> <!-- - 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- - /article - - - --> </div> <div class="slideshow--row__item pr-0 pr-sm-2 mb-2 lap-and-up-border--right palm-border--bottom equalize float-left" data-id="2" style="float:left;width:24%;margin-right:1.3333333333333%;"> <!-- - - - article - - - --> <article class="box story mt-1 mb-1 mb-sm-2 mt-sm-0 pt-0 pb-1 pb-sm-2 pt-1 pt-sm-0 pr-0" data-id="1391385" data-layout="story"> <!-- box/image --> <figure class="media media--focus media--stretch col-sm-12 col-3 mr-sm-0 mr-2 float-sm-none px-0 "> <div class="media__item media__item--100 "><a title="" href="https://web.archive.org/web/20180224062031/https://www.dawn.com/news/1391385/securing-the-nation"><img src="https://web.archive.org/web/20180224062031im_/https://i.dawn.com/medium/2018/02/5a90bdb0ea5ec.jpg" alt="Securing the nation"/></a></div> </figure> <!-- box/title py:0 --> <h2 data-layout="story" data-id="1391385" class="story__title font--playfair-display py-0 "><a href="https://web.archive.org/web/20180224062031/https://www.dawn.com/news/1391385/securing-the-nation" class="story__link">Securing the nation</a></h2> <!-- box/byline --><div class=" mt-1 "><span class="story__byline size-three text--black "><a href="https://web.archive.org/web/20180224062031/https://www.dawn.com/authors/933/tariq-khosa">Tariq Khosa</a></span> </div></article> <!-- - - - /article - - - --> </div> <div class="slideshow--row__item pr-0 pr-sm-2 mb-2 lap-and-up-border--right palm-border--bottom equalize float-left" data-id="3" style="float:left;width:24%;"> <!-- - - - article - - - --> <article class="box story mt-1 mb-1 mb-sm-2 mt-sm-0 pt-0 pb-1 pb-sm-2 pt-1 pt-sm-0 pr-0" data-id="1391176" data-layout="story"> <!-- box/image --> <figure class="media media--focus media--stretch col-sm-12 col-3 mr-sm-0 mr-2 float-sm-none px-0 " data-focus-x="0%" data-focus-y="0%"> <div class="media__item media__item--100 "><a title="" href="https://web.archive.org/web/20180224062031/https://www.dawn.com/news/1391176/manifestos-and-education"><img src="https://web.archive.org/web/20180224062031im_/https://i.dawn.com/medium/2018/02/5a8f7b6a47fc9.jpg" alt="Manifestos and education"/></a></div> </figure> <!-- box/title py:0 --> <h2 data-layout="story" data-id="1391176" class="story__title font--playfair-display py-0 "><a href="https://web.archive.org/web/20180224062031/https://www.dawn.com/news/1391176/manifestos-and-education" class="story__link">Manifestos and education</a></h2> <!-- box/byline --><div class=" mt-1 "><span class="story__byline size-three text--black "><a href="https://web.archive.org/web/20180224062031/https://www.dawn.com/authors/568/faisal-bari">Faisal Bari</a></span> </div></article> <!-- - - - /article - - - --> </div> </div><div class="clear--both"> </div></div> </div> <div class="border--top border--thick border--black mx-sm-2 mx-0"> <h3 class="editorial-stories font--playfair-display my-2"><a class="editorial-stories" href="/web/20180224062031/https://www.dawn.com/opinion">Editorial</a></h3> <div class=" slideshow--list slideshow--editorial mt-2"> <div class="clear--both"> <div class="slideshow--row__item active pr-0 pr-sm-2 mb-2 lap-and-up-border--right palm-border--bottom equalize float-left" data-id="0" style="float:left;width:15.666666666667%;margin-right:1.2%;"> <!-- - - - article - - - --> <article class="box story mt-1 mb-1 mb-sm-2 mt-sm-0 pt-0 pb-1 pb-sm-2 pt-1 pt-sm-0 pr-0" data-id="1391384" data-layout="story"><!-- box/date --><span class="story__time size-two text--gray font--arial ">February 24, 2018</span> <!-- box/title xsmall --> <h2 data-layout="story" data-id="1391384" class="story__title size-four font--playfair-display "><a href="https://web.archive.org/web/20180224062031/https://www.dawn.com/news/1391384/senate-poll-challenge" class="story__link">Senate poll challenge</a></h2> <!-- box/excerpt --> <div class="story__excerpt size-three font--georgia ">AN unusual problem has been solved in an unusual manner, giving rise to the usual speculation of partisanship and... </div> </article> <!-- - - - /article - - - --> </div> <div class="slideshow--row__item pr-0 pr-sm-2 mb-2 lap-and-up-border--right palm-border--bottom equalize float-left" data-id="1" style="float:left;width:15.666666666667%;margin-right:1.2%;"> <!-- - - - article - - - --> <article class="box story mt-1 mb-1 mb-sm-2 mt-sm-0 pt-0 pb-1 pb-sm-2 pt-1 pt-sm-0 pr-0" data-id="1391383" data-layout="story"><!-- box/date --><span class="story__time size-two text--gray font--arial ">February 24, 2018</span> <!-- box/title xsmall --> <h2 data-layout="story" data-id="1391383" class="story__title size-four font--playfair-display "><a href="https://web.archive.org/web/20180224062031/https://www.dawn.com/news/1391383/back-to-load-shedding" class="story__link">Back to load-shedding</a></h2> <!-- box/excerpt --> <div class="story__excerpt size-three font--georgia ">ENDING load-shedding was Nawaz Sharif’s biggest campaign promise, and has been the backbone of his narrative since... </div> </article> <!-- - - - /article - - - --> </div> <div class="slideshow--row__item pr-0 pr-sm-2 mb-2 lap-and-up-border--right palm-border--bottom equalize float-left" data-id="2" style="float:left;width:15.666666666667%;margin-right:1.2%;"> <!-- - - - article - - - --> <article class="box story mt-1 mb-1 mb-sm-2 mt-sm-0 pt-0 pb-1 pb-sm-2 pt-1 pt-sm-0 pr-0" data-id="1391382" data-layout="story"><!-- box/date --><span class="story__time size-two text--gray font--arial ">February 24, 2018</span> <!-- box/title xsmall --> <h2 data-layout="story" data-id="1391382" class="story__title size-four font--playfair-display "><a href="https://web.archive.org/web/20180224062031/https://www.dawn.com/news/1391382/dangerous-nexus" class="story__link">Dangerous nexus</a></h2> <!-- box/excerpt --> <div class="story__excerpt size-three font--georgia ">INEXTRICABLY linked, illicit economies and organised crime pose extreme threats to societies. In Karachi’s... </div> </article> <!-- - - - /article - - - --> </div> <div class="slideshow--row__item pr-0 pr-sm-2 mb-2 lap-and-up-border--right palm-border--bottom equalize float-left" data-id="3" style="float:left;width:15.666666666667%;margin-right:1.2%;"> <!-- - - - article - - - --> <article class="box story mt-1 mb-1 mb-sm-2 mt-sm-0 pt-0 pb-1 pb-sm-2 pt-1 pt-sm-0 pr-0" data-id="1391170" data-layout="story"><!-- box/date --><span class="story__time size-two text--gray font--arial "><span class="timestamp--label">Updated</span> February 23, 2018</span> <!-- box/title xsmall --> <h2 data-layout="story" data-id="1391170" class="story__title size-four font--playfair-display "><a href="https://web.archive.org/web/20180224062031/https://www.dawn.com/news/1391170/regrettable-verdict" class="story__link">Regrettable verdict</a></h2> <!-- box/excerpt --> <div class="story__excerpt size-three font--georgia ">The highest court in the land should be accorded the highest respect. Without the judiciary, rule of law is impossible. </div> </article> <!-- - - - /article - - - --> </div> <div class="slideshow--row__item pr-0 pr-sm-2 mb-2 lap-and-up-border--right palm-border--bottom equalize float-left" data-id="4" style="float:left;width:15.666666666667%;margin-right:1.2%;"> <!-- - - - article - - - --> <article class="box story mt-1 mb-1 mb-sm-2 mt-sm-0 pt-0 pb-1 pb-sm-2 pt-1 pt-sm-0 pr-0" data-id="1391169" data-layout="story"><!-- box/date --><span class="story__time size-two text--gray font--arial "><span class="timestamp--label">Updated</span> February 23, 2018</span> <!-- box/title xsmall --> <h2 data-layout="story" data-id="1391169" class="story__title size-four font--playfair-display "><a href="https://web.archive.org/web/20180224062031/https://www.dawn.com/news/1391169/no-place-for-newborns" class="story__link">No place for newborns</a></h2> <!-- box/excerpt --> <div class="story__excerpt size-three font--georgia ">As the primary stakeholders in this venture, women must be empowered to exercise their rights and demand quality care. </div> </article> <!-- - - - /article - - - --> </div> <div class="slideshow--row__item pr-0 pr-sm-2 mb-2 lap-and-up-border--right palm-border--bottom equalize float-left" data-id="5" style="float:left;width:15.666666666667%;"> <!-- - - - article - - - --> <article class="box story mt-1 mb-1 mb-sm-2 mt-sm-0 pt-0 pb-1 pb-sm-2 pt-1 pt-sm-0 pr-0" data-id="1391168" data-layout="story"><!-- box/date --><span class="story__time size-two text--gray font--arial "><span class="timestamp--label">Updated</span> February 23, 2018</span> <!-- box/title xsmall --> <h2 data-layout="story" data-id="1391168" class="story__title size-four font--playfair-display "><a href="https://web.archive.org/web/20180224062031/https://www.dawn.com/news/1391168/syrias-nightmare" class="story__link">Syria’s nightmare</a></h2> <!-- box/excerpt --> <div class="story__excerpt size-three font--georgia ">Is it only a matter of time before a new regional conflict in the Middle East materialises? </div> </article> <!-- - - - /article - - - --> </div> </div><div class="clear--both"> </div></div> </div> <div class="px-2"> <!--- 90 728 --> <!-- - - adsense: start - - --> <div class="ad py-4 d-block d-sm-none" aria-hidden="true"> <div class="ad__label " style="max-width:728px;">Advertisement</div> <div class="js-ad clearfix" style="max-width:728px;padding-bottom:12.362637362637%;text-align:center;margin:0 auto;overflow:hidden;"> <div class="radWrapper ad__wrapper"> <div id="div-gpt-ad-1455531878761-2" class="ad__wrapper__slot" style="width:728px;position:absolute"> <script>googletag.cmd.push(function() { googletag.display('div-gpt-ad-1455531878761-2'); 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