Pakistan Considers Automotive Tax Cuts

Pakistan's Economic Co-ordination Committee (ECC) is to consider a tax cut of 10% for domestic carmakers, suggested by the Ministry of Industries and Production. Following a 51% drop in vehicle sales for the first quarter of FY2008/09 (July to September), the ministry is looking for a way to support the flagging automotive sector, which has suffered a subsequent slowdown in production. In the three-month period to September, most of the major manufacturers recorded a drop in sales, according to the local Business Recorder, led by a 64% decline in sales for Indus Motor.

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