LAHORE: The business of used cars import is thriving as 9,569 used vehicles were imported in the first three months of fiscal year 2014-15 as compared to 5,863 units in the same period last year, showing a huge growth of 63 per cent.

According to Pakistan Association of Automotive Parts and Accessories Manufacturers, though import of used cars is allowed only to Pakistanis living abroad under transfer of residence, personal baggage and gift schemes under import policy order, this policy is being massively abused by used car traders with the support of some customs appraisement officers. In a statement, Siddique Misri, chairman of the association, said despite cut in duty and taxes rates on hybrid vehicles dealers have failed to bring down prices.