The Centaurus Automotive show
2024
Automotive Show 2024 organized by The Centaurus
The Centaurus has consistently been at the forefront of promoting local businesses through various activities, events, and exhibitions. This time, The Centaurus takes pride in organizing an Automotive Show on February 17, 2024, during the malls 11th anniversary. The event was inaugurated by Sardar Yasir Ilyas Khan (CEO The Centaurus, President IDA), Dr. Akbar Nasir IG Islamabad, Dr. Rashid Ilyas Khan SVP and Group Director Centaurus, Ahsan Zafar Bakhtawari (President ICCI), Nassie CEO cars of Pakistan, Saad (CEO Hazara Automotive Community), along with other dignitaries. This marks the inaugural car show of the season in Islamabad/Rawalpindi, where more than 800 cars across various categories participated, including Vintage Cars, Luxury Cars, Sports Cars, High-End SUVs, Modified Cars, and Sports/Heavy Bikes. The event attracted over 150,000 visitors, especially car enthusiasts from across Pakistan.
Speaking at the inauguration ceremony of the car show, Sardar Yasir Ilyas Khan articulated his concerns regarding the government’s policies towards electric vehicles and luxury car imports, emphasizing that the current tax structures are highly discouraging. He highlighted that electric vehicles are being taxed at 64% and luxury cars with engine capacities exceeding 3000 cc incur a hefty 424% tax burden. He stressed the need for consistent and predictable tax policies, suggesting that annual budgetary decisions should determine import taxes to avoid fluctuations caused by mini-budgets. He underscored the adverse effects of inconsistent taxation, noting that frequent changes in import duties often lead importers to face unexpected financial burdens, sometimes resulting in cars being auctioned at ports due to budgetary constraints. He proposed that the government streamline import taxes, setting them annually to prevent confusion and financial strain on importers. Due to the government’s discouraging policies towards luxury car imports, illegal imports and smuggling are on the rise. These practices not only undermine national revenue but also deter overseas Pakistanis from investing in this sector.
Shifting focus to the electric car sector, Sardar Yasir Ilyas Khan highlighted the imminent electric vehicle revolution, predicting a significant transition within 5 to 8 years due to their environmental sustainability and lower operational costs. However, he lamented the inadequate infrastructure for electric vehicles in Pakistan, particularly the scarcity of charging stations. He pointed out that the limited availability of charging stations deters people from embracing electric cars, hindering the country’s readiness for the electric vehicle revolution. Without proper infrastructure the adoption of electric vehicles would remain stagnant, while the rest of the world prepares for the electric vehicle transition due to the constant growth in the global warming crisis In conclusion, Sardar Yasir Ilyas Khan urged the government to address these issues promptly by implementing consistent import tax policies and investing in electric vehicle infrastructure to propel Pakistan towards a more sustainable automotive future. He also stressed on the need of establishing a motorcity by developing a formula one track supported by hotels and resorts where several multinational companies would come for annual events thus giving a boost to tourism swell.
About The Author
Engr. M. Waqas ur Rehman
editor in chief
Mr. Waqas is a software engineer, an entrepreneur managing multiple business ventures with his expertise in digital marketing, eCommerce. An author, a business management expert, global traveling freak and the brain behind EMAL International Media Group. Editor in chief Modern Living magazine and founder of YOUTH HUB.
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