ISLAMABAD: The auto sector has demanded that the government implement measures to curb the rising imports of used cars, which are not only undermining local production but also instrumental in transferring forex through the grey channel.

In its budget proposals to the Federal Board of Revenue (FBR), the auto sector said that during 2022-23, the industry imported parts amounting to $1.57 billion and all the payments were made through the banking channel.

It added that payments to import used cars were made through the ‘grey channel’ for transferring foreign exchange.

Cheaper used car imports hurting local industry

Indus Motor Company Chief........

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