Cheapest Motorcycle Parts
KARACHI: Faisal Khalil, Chairman, All Pakistan Motorcycle Spare Parts Importers & Dealers Association (APMSPIDA) urged the Prime Minister and Federal Finance Minister to reduce import duty of motorcycle spare parts from 35 percent to 20 percent and abolish 15 percent additional duty in coming budget for the year 2015-16 to encourage legitimate import and discourage smuggling.
In a letter to Prime Minister and Finance Minister, he said that the elected government came into power with the votes of the poor people of Pakistan and recalled that during the election campaign it has been promised that they will reduce prices after coming into power.
He pointed out that the most cheapest means of transport (motorcycle) spare parts are subjected to 35 percent custom duty, 15 percent addl duty, 17 percent sales tax, 3 percent addl tax and 5.5 percent income tax i.e. almost 100 percent impact of levies are applied on the import of spare parts.
He mention that the imports of spare parts are paying 3 to 4 billion of rupees to government exchequer which is just 50 percent to 55 percent share of legally imports, whereas 45 to 50 percent government revenue is hijacked by the smugglers due to high tariff.
He said that due to exorbitant high tariff smuggled goods are flooded in the markets through KPK and Balochistan borders beside others.
The argument of high tariff just to protect local industry is not workable. Engineering industry has only 0.1 percent share total 400 billion dollars world business, he mentioned.
The association further proposed that that custom duty be reduced from 35 percent to 20 percent on under mention items of motorcycle spare parts under chapter 8700-0000 respective headings.
He further demanded that 15 percent additional duty be abolished imposed under SRO 693(1)/2006dated July 1, 2006 and the SRO be amended accordingly.
He demanded that rescind or suspension of all valuation rulings for relating to our trade for one year and let the traders be allowed importing at the lowest price from the world market.
Items listed under respective heading under cheaper 870-0000 be included in FTA with China and Malaysia, he proposed.
Time limit of 45 days be fixed to decide the review petition filed under section 25D of the custom act 1969 as at present director general valuation takes years to decide the matters.
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