Lahore: The Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) has shown serious concern over the proposed hike in sales tax from 18 percent to 25 percent on automobiles, as it would jump the rates of cars as high as Rs4 million or above. In a unified stance, the PAAPAM’s leadership, comprising of Chairman Abdul Rahman Aizaz, SCV Mumsahd Ali, and VC Taufique Sherwani are of the opinion that previous move to increase ST to 25% on 1400 cc cars along with other taxation measures and devaluation of rupee have already resulted in drop of automobile sales to just 30% of 2021-22 levels. This sharp decline has not only resulted in duress to the part making sector and cut in employment generation but also resulted in lesser absolute tax collection from the sector. our correspondent
