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ANNOUNCEMENT 23 Oct 2012
In October 2012, the government of Pakistan announced .NUMBER OF INTERVENTIONS
2
SOURCE
Pakistan Information Dept.
http://www.pid.gov.pk/press23-10-2012.htm
News sources
http://www.dailytimes.com.pk/default.asp?page=2012%5C10%5C24%5Cstory_24-10-2012_pg5_1
http://www.brecorder.com/general-news/172/1250711/
http://dawn.com/news/758985/eec-cuts-tariff-for-motorbike-industry
http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/business/24-Oct-2012/ecc-approves-guarantee-for-rs-9-36b-fresh-pia-loan
On 23 October 2012, the Economic Co-ordination Committee of Pakistan met and took the following decisions:
- A state-guranateed loan of Rs. 9.36 billion was approved for Pakistan International Airlines. Additionally the government guaranteee on Sukuk (loan) certificates of Rs. 6.8 billion was extended for two years.
- For the upgradation of the capactiy of Wah Brass Mills (Pvt.) Ltd., a loan of USD 16 million at the cost of borrowing of the government and a state guarantee on loans amounting to USD 59.4 million was approved.
With regards to the import tariff on goods related to motorcycles, the following was amended -
- Tariff on sub-assemblies was reduced from 20 to 15 percent.
- Tariff on Completely Built Units (CBU) or components for assembly for manufacture of vehicles and kits was reduced from 65 to 57 percent.
- Tariff oncompletely knocked down (CKD) units not locally manufactured was reduced from 15 to 5percent.
- Tariff on CKD units locally manufactured was brought down from 47.5 to 30 percent.
It was also discussed that the import of old and used cars is damaging the local car industry and therefore the age limit for old cars should be raised. A committee was set up to look into this measure.
On 23 October 2012, the Economic Co-ordination Committee of Pakistan met and took the following decisions:
- A state-guranateed loan of Rs. 9.36 billion was approved for Pakistan International Airlines. Additionally the government guaranteee on Sukuk (loan) certificates of Rs. 6.8 billion was extended for two years.
- For the upgradation of the capactiy of Wah Brass Mills (Pvt.) Ltd., a loan of USD 16 million at the cost of borrowing of the government and a state guarantee on loans amounting to USD 59.4 million was approved.
With regards to the import tariff on goods related to motorcycles, the following was amended -
- Tariff on sub-assemblies was reduced from 20 to 15 percent.
- Tariff on Completely Built Units (CBU) or components for assembly for manufacture of vehicles and kits was reduced from 65 to 57 percent.
- Tariff oncompletely knocked down (CKD) units not locally manufactured was reduced from 15 to 5percent.
- Tariff on CKD units locally manufactured was brought down from 47.5 to 30 percent.
It was also discussed that the import of old and used cars is damaging the local car industry and therefore the age limit for old cars should be raised. A committee was set up to look into this measure.