Gandhara Industries (LTD.) made the announcement regarding an immense price hike for its Isuzu D-Max Double Cabin Pickup trucks. The prices have been increased by up to Rs. 860,000. The new prices would include 17% General Sales Tax (GST). This was stated by the company in a notification.
The old price of Hi-Lander Double Cabin was Rs.5,300,000. It was increased by Rs. 400,000 to reach Rs. 5,700,000. Similarly, the old price of V-Cross Double Cabin M/T was Rs.5,800,000. It was increased by Rs. 800,000 to reach Rs. 6,600,000. The earlier price of V-Cross Double Cabin A/T was Rs.6,100,000. The price increased by Rs.860,000 to reach Rs. 6,960,000.
The price increase is a result of the new policies introduced as part of the 2020-21 financial budget. 7.5% Federal Excise Duty (FED) has been imposed on the locally assembled 4×4 double cabin trucks. Also, 25% of FED is imposed on imported ones.
Federal Minister of Industries and Production Hammad Azhar said that these vehicles are used to transport different items from one place to another. However, he said that in Pakistan people use these vehicles “as a status symbol”. Thus, there have been greater FED rates imposed.
It is also important to mention here that this revision in the prices of Gandhara Industries has been done twice in just 3 months.