Government revenue from vehicle imports had hit Rs. 11 billion up to end September this year from Rs. 3.1 billion in the whole of 2009 according to
oficial figures."The total figure will look very good by year-end,’’ a senior official said.
The surge of imports is attributed to the recent reduction in the duty rates that revived the sluggish motor vehicle import business making vehicles more affordable to buyers and boosting the motor trade.
The leasing business too, which was traditionally dominated by vehicle leases, had also benefited from the dramatic increase in vehicle imports, a senior official said yesterday.
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