Towards Making Cars Affordable: Few More Steps

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No altercation is digestible if you talk about the vitality of a vehicle in the contemporary living lifestyle. The common citizenry is equally linked to vehicles availability whilst the higher cadres need it to display their wealth and prestige through luxurious brands and automobiles.

Quite the contrary

This long-lasting desire appears to be less affordable if the price of such above-mentioned assets goes beyond the wallet's reach.

Further

To make them affordable, the governments devise long-lasting plans to meet the peoples’ conveyance requirements. In the facet of making vehicles affordable, governments should evolve well-planned and predictable strategies.

While profoundly envisaging the rising and un-affordable price situation of the vehicles, you must delve into two facets particularly related to the price hikes of the cars and automobiles; Federal Excise Duty and sales tax.
With these state-oriented obligations in affordability, the prices of automobiles will remain quite accessible.
During the ongoing fiscal year, the government’s quest to normalize the price enigma seemed a bit amenable.
Thus, the vehicles locally produced and energized up to 850 cc were exempted from Federal Excise Duty. Likewise, it reduced the sales tax on the same genre of vehicles from 17pc to 12.5 pc.

Given the above-mentioned move, you can never ignore to appreciate the government's relief if you love to buy a car. However, this relief is limited in all aspects. The governments should focus more on the other genres while maintaining the given above relief to the stable level.

According to individuals with public policy keenness, the government should extend the relief in the above-mentioned obligation up to the engine's capacity of 1050cc. This will lead to the reduction of the price at the small level in the production of the vehicle.

Furthermore,

The manufacturing at the local level will be encouraged to the maximum level and the price reduction will be strengthened. More candidly, the relief in the Federal Excise Duty and Sales Taxes in Islamabad should increase to all categories such as passenger vehicles, light Commercial vehicles, and multi-purpose vehicles.

Finally, the government should work more for alleviating people from difficult situations specifically in their needs of owning conveyance. It should emphasize maintaining its credibility and popularity through price control and reduction in the vehicles.

Cars# Affordability#

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