Islamabad May 4 2022: Apropos frequent price hike of locally manufactured and assembled automobiles in past few months. Government spokesperson has expressed concern over price surge & has taken a serious view about the frequent price increases by local automobile manufacturers/ assemblers.
Spokesperson said that the situation was unacceptable, and the government might consider to initiate regulatory measures which may include fixation of prices under the Price Control revention of Profiteering and Hoarding Act, 1977. Furthermore, he said that the cost structure and justification of price increase had been sought from local manufacturers and assemblers.
Any step in this direction will make it difficult for local car manufacturers such as Toyota, Honda, Suzuki, Kia and others to increase automobile prices in the future or at least make them cautious over justification in increase in prices.