The Pakistan Economy Watch (PEW) on Thursday said tax relaxations and other incentives by the governemnt have increased car sales but it is not as beneficial as investment in the public transport sector.<\/p>\n
The sales of automobiles have increased by almost 56 percent while the volume of auto financing has touched an unprecedented level of Rs308 billion due to low interest rate environment, it said. <\/p>\n
The low interest rate at seven percent has also increased the interest of masses in buying cars as the policy rate was 13.5 percent a year ago, said Dr. Murtaza Mughal, President PEW. <\/p>\n
He said that government should also focus on improvement of public transport which is used by 95 percent of the people. <\/p>\n
Increased sales of cars will not benefit economy and masses as expected because assembling is preferred over manufacturing in the country, he informed. <\/p>\n
Dr Murtaza Mughal said that there is not a single unit in the country producing cars without importing spare parts from foreign companies. <\/p>\n","protected":false},"excerpt":{"rendered":"
The Pakistan Economy Watch (PEW) on Thursday said tax relaxations and other incentives by the governemnt have increased car sales but it is not as beneficial as investment in the public transport sector. The sales of automobiles have increased by almost 56 percent while the volume of auto financing has touched an unprecedented level of […]<\/p>\n","protected":false},"author":2,"featured_media":165660,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-206619","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n