{"id":330586,"date":"2023-05-12T09:23:22","date_gmt":"2023-05-12T04:23:22","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=330586"},"modified":"2023-05-12T09:23:22","modified_gmt":"2023-05-12T04:23:22","slug":"govt-warns-dealers-to-reduce-car-prices-or-face-strict-action","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/govt-warns-dealers-to-reduce-car-prices-or-face-strict-action\/","title":{"rendered":"Govt warns dealers to reduce car prices or face strict action"},"content":{"rendered":"<p>ISLAMABAD<br \/>\nFederal Minister for Commerce Naveed Qamar on Thursday warned car dealers of strict action if prices were not reduced following the removal of regulatory duty. Talking to media, Naveed Qamar said that regulatory duty on luxury items was abolished on March 31, asking car dealers to reduce price of vehicles. He said that government will take strict action against dealers if prices were not reduced.<br \/>\n\u201cGovt will take strict action against car companies if prices were not reduced despite the end of regulatory duty\u201d Naveed Qamar warned.<br \/>\nThe minister further said that the incumbent government will remove restrictions on opening Letters of Credit (LC) after sealing deal with International Monetary Fund (IMF).<br \/>\nIt is pertinent to mention here that car companies in Pakistan have sharply increased prices in recent months, citing the rupee\u2019s depreciation among other factors. The government had restricted imports, including by imposing heavy regulatory duties, in a bid to control the outflow of dollars.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD Federal Minister for Commerce Naveed Qamar on Thursday warned car dealers of strict action if prices were not reduced following the removal of regulatory duty. Talking to media, Naveed Qamar said that regulatory duty on luxury items was abolished on March 31, asking car dealers to reduce price of vehicles. He said that government [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-330586","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-top-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Govt warns dealers to reduce car prices or face strict action<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/govt-warns-dealers-to-reduce-car-prices-or-face-strict-action\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt warns dealers to reduce car prices or face strict action\" \/>\n<meta property=\"og:description\" content=\"ISLAMABAD Federal Minister for Commerce Naveed Qamar on Thursday warned car dealers of strict action if prices were not reduced following the removal of regulatory duty. Talking to media, Naveed Qamar said that regulatory duty on luxury items was abolished on March 31, asking car dealers to reduce price of vehicles. 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