ISLAMABAD: The reduction in customs duty on import of cars in the last fiscal year has benefited all and a total of 40,026 used, old and new cars valued at Rs 16.661 billion were imported in the country during the July-May period of last fiscal year 2005-06 and Rs 10.296 billion were collected as customs duty on such import.

Some 26,835 cars were imported under the Transfer of Residence Scheme, 4,969 cars under the Personal Baggage Scheme, 2,979 cars under the Gift Scheme and 5,295 new cars were imported during the July-May period of last fiscal year 2005-06. A total of 7,656 used cars under the three schemes and new cars were during the July-May period of fiscal year 2004-05.

Transfer of Residence Scheme: Some 26,835 cars and other old and used vehicles were imported under the Transfer of Residence Scheme valued at Rs 8.296 billion during July-May period of last fiscal year and Rs 5.166 billion were collected as customs duty on said imports. 15,251 cars of up to 1000cc were imported during July-May period of last fiscal year against only three in the previous fiscal year 2004-05. 1,153 cars of 1001cc to 1300cc were imported during last July-May period against 24 in the same period of previous fiscal year. 3,143 cars of 1301cc to 1500cc were imported in the country during July-May period of last fiscal year compared with only seven in the same period of previous fiscal year. 64 cars of 1501cc to 160cc were imported in July-May period of last fiscal year compared with seven in the same period of previous fiscal year. 498 cars of 1601cc to 1800cc were imported during July-May period of last fiscal year against 131 in the same period of previous fiscal year. 421 cars of 1801cc to 3000cc were imported in July-May period of last fiscal year against the import of 19 in the same period of previous fiscal year. 20 cars of above 3000cc were imported during July-May period of last fiscal year compared with the import of one in the same period of previous fiscal year. 6,285 jeeps of 4X4 were imported during July-May period of last fiscal year against 72 in the same period of previous fiscal year.

Personal Baggage Scheme: A total of 4,969 old and used cars were imported under the Personal Baggage Scheme during July-May period of last fiscal year 2005-06 compared with the import of 105 such cars during July-May period of previous fiscal year 2004-05.

The imports during July-May period of last fiscal year 2005-06 were 2,931 cars of 1000cc, 349 cars of 1001cc to 1300cc, 647 cars of 1300cc to 1500cc, 24 cars of 1501cc to 1600cc, 156 cars of 1601cc to 1800cc, 333 cars of 1801cc to 3000cc, 45 cars of above 3000cc and 484 4X4 jeeps under the said scheme.

Gift Scheme: Some 2,927 cars were imported under the Gift Scheme during July-May period of last fiscal year 205-06compared with the import of 2,553 cars during the same period of previous fiscal year 2004-05. The imports under this scheme were 797 cars of up to 1000cc, 202 cars of 1001cc to 1300cc, 315 cars of 1301cc to 1500cc, 13 cars of 1501cc to 1600cc, 186 cars of 1601cc to 1800cc, 365 cars of 1801cc to 3000cc, 245 cars of above 3000cc and 804 jeeps of 4X4.

New cars: Apart from the said three schemes, new cars’ import also witnessed a growth. 5,295 new cars were imported during July-May period of last fiscal year 2005-06 compared with the such imports of 4,734 during the same period of previous fiscal year 2004-05. The import of new cars during July-May period of last fiscal year was 1,076 cars of up to 1000cc, 1,469 cars of 1001cc to 1300cc, 228 cars of 1301cc to 1500c, 869 cars of 1501cc to 1600cc, 76 cars of 1601cc to 1800cc, 1,006 cars of 1801cc to 3000cc, 93 cars of 3000cc and above and 487 jeeps of 4X4.

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