Govt Bans Purchase of New Cars Until Next Year
As part of the austerity measures announced by Prime Minister Shehbaz Sharif, the Federal Government has implemented a ban on the purchase of new cars for 16 months till June 2024.
According to the details, the ban on purchase of new vehicles has been implemented immediately and a circular has been issued to all ministries and divisions regarding the new measure.
It is pertinent to mention that Foreign Ministry and Diplomatic Mission are exempt from this 16-month ban. In January, the Punjab Government had also imposed an informal ban on the purchase of new vehicles for Government Departments.
Meanwhile, the Finance Department has rejected all summaries regarding procurement of new cars for Government departments, who have been directed to stop sending such summaries.
New Price Hikes Expected
Furthermore, another wave of price hikes is expected in the automotive industry after the Pakistani Rupee (PKR) fell to Rs. 285.09 against the US Dollar (USD) on Thursday (2 March 2023).
Read more: Dollar Rate in Pakistan (Daily Updates).
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