Car companies face fines for late delivery of vehicles
Stay tuned with 24 News HD Android App
The car manufacturing companies will no longer enjoy unlimited freedom as the government plans to impose fines on the companies not handing over cars to the buyers on time, reported 24NewsHD TV channel on Friday.
Quoting sources in the government, the TV channel reported that according to one of the budget proposals, the firms will have to hand over cars to their owners within 60 days.
Retaining of the payment of Income Tax, ranging between Rs50, 000 and Rs0.2 million, in advance, has also been proposed in order to rid buyers of the payment of own money on cars.
Similarly, there is a proposal that car manufacturing units be made bound to bridge gap between the demand and supply of cars.
See Also: Federal budget to be unveiled on June 11
Likewise, making online booking of cars mandatory in the upcoming budget has also been suggested.
The sources further told 24News that it was the government’s opinion that car manufacturing firms were busy looting the buyers as they receive millions of rupees from them in advance but fail to hand over the cars on time. Therefore, it had been decided to reign them in by making them bound to deliver cars on time rather than making the customers wait for months, sources disclosed.
Reporter Waqas Azeem