The new year’s dawn has brought some good news for those wanting to purchase or lease a vehicle. Pakistanis can now sigh a little in relief after the State Bank of Pakistan eased import curbs of vehicles equal to or under 1000cc. This is a good sign for auto companies, especially Suzuki, who were speculated to shut down assembly lines due to the hefty tax fees on completely knock-down (CKD) kits and parts. Due to these amends, Suzuki Alto’s all variants will become cheaper.
Suzuki Alto Overview
Suzuki Alto 660 CC is integrated with a 660CC engine. With a seating capacity of 4 persons, it comes with five doors. Alto’s transmission type is manual or auto, depending on the variant. The fuel capacity of the car is 27 litres. Variants offered by Suzuki in Alto are VX, VXR, VXR AGS, and VXL AGS.
Suzuki Alto is a spacious car with a seating capacity of 4 people, an ideal vehicle for a small family. The car also has safety features such as seatbelts, ABS brakes, and airbags that provide a comfortable and secure travel experience for you and your family.
The price of Suzuki Alto 2023 in Pakistan currently ranges from PKR 1,699,000 for the base variant VX to PKR 2,223,000 for the top-of-the-line VXL AGS variant.
Alto’s All Variants to Become Cheaper
Removing import moving import sanctions and reducing will enable Pak Suzuki to reinvigorate its production and sales.
As per an amendment notification issued by the revenue division, the duty has been decreased from 30% to 15%. Moreover, the customs duty on tire tubes has also been brought down from 25% to 16%. The government has also slashed the custom duty from 32.5% to 30% on the older model of 1000cc cars.
The notification has further informed us that the recent relief of 15% comes with a validity period of 3 years. It applies to new model cars certified by Engineering Development Board (EDB).
The State Bank of Pakistan (SBP) has eased the import restrictions on several essential items, including Completely Knocked Down (CKD). In a circular, the SBP stated that the central bank has decided to withdraw the curbs from January 2, 2023. It will pave the way for accepting requests for import transactions already submitted to the SBP.
Conclusion
This relief on import duties will also benefit local car makers like Kia Lucky and Prince to boost production and offer vehicles at affordable prices.
Source: ProPakistani (https://propakistani.pk/2023/01/06/1000cc-cars-are-becoming-cheaper-soon/)
