ECC approves scheme for import of used cars - will prices fall now?
The move aims to boost industrial activity while keeping strict control on imports. The federal government has launched a pilot project that allows temporary import of used vehicles and auto parts. These items will be brought into the country for repair, refurbishment, and later export to international markets.
The decision was taken during a meeting of the Economic Coordination Committee ECC. The committee approved changes in the Import Policy Order 2022 and related export facilitation rules to support the plan.
Officials from the Commerce Division said the new framework follows international commitments. It also ensures that the import of used vehicles and parts remains controlled and focused on value addition.
Under this scheme, imported vehicles and parts will not be sold in local markets. Instead, they will be repaired or upgraded and then sent back abroad for sale.
Authorities have been instructed to monitor the scheme closely during its pilot phase. A full review will be carried out after one year to measure its success and overall impact.
Officials believe this move will support growth in the automotive sector. It is also expected to create new jobs while keeping strict checks on unnecessary imports.
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This decision may help Pakistan earn foreign exchange through re exports. It can also improve technical skills in the auto repair sector.
However, strict monitoring will be necessary to stop misuse of the scheme. If handled well, it could become a long term boost for the economy.
