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Govt has no intention to remove FED for cars 1700cc and above
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Pakistan, April 22 -- There is fake news in the market about the removal of the 10% federal excise duty (FED) on all cars above 1700cc. Our sources confirmed that there is no such intention by the Government or the FBR on the removal of 10% FED. Local cars that have an engine displacement of 1700cc and above will continue to pay the 10% FED which means a higher price for all car manufacturers. The imposition of 10% FED on cars with an engine capacity of more than 1700cc had earlier sent up a trial balloon for the auto sector. Following this, all manufacturers have also hiked prices of its cars by around 11.5% to pass on the impact of recently introduced federal excise duty on cars of over 1700cc capacity, coupled with rupee depreciation. ...
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