Motorcycle assemblers seek govt to cut in taxes
ISLAMABAD—Motorcycle assemblers have demanded the government on Tuesday to relieve the industry of some taxes in the upcoming federal budget of Fiscal Year (FY) 2016-17. According to the body, 50 plants out of total 120 are closed and the remaining are not meeting their maximum production. Only 50 percent of the total production capacity is being utilized currently by production houses in the country.
The industry is capable of producing around 4 million units per anum but sales are stagnated at 2 million. Industrialists while talking to private news channel said, that lesser production leads to increased manufacturing cost while government’s production quota scheme has resulted in limited use of capability. The body has stated that employment opportunities would increase if the government considers recommendations of the industrialists and reduce taxes.—APP