Used cars import: ECC to consider raising depreciation rate today.

Byline: MUSHTAQ GHUMMAN

The Economic Co-ordination Committee (ECC) of the Cabinet which is scheduled to meet on Tuesday, will consider increasing the rate of depreciation in assessable value from the existing level of 1 percent to 2 percent per month on import of used cars, sources in the Ministry of Industries and Production told Business Recorder.

A day before the ECC meeting, Pak Suzuki increased the prices of all models by up to Rs 15,000, which implies that the local manufacturers have decided not to reduce prices on the request of the federal government, sources said. Only Toyota company has reduced the prices of its different models on the request of the government.

"If the …