Abdul Razzak Dawood said that he is not satisfied with the current state of affairs of auto industry with respect to own money in sale of cars.
Lahore (Pakistan Point News – 30th January, 2019) The government has time and again reiterated that the ‘own money’ given to the dealers on the purchase of new vehicles is totally unacceptable.
However, the government has now decided to take an action against the auto dealers taking ‘own money’.
While presenting the mini budget, Finance Minister Asad Umar had directed Advisor to the Prime Minister on Commerce, Textile, Industries and Production and Investment, Abdul Razzak Dawood to take care of the interest of the buyers as paying ‘own money’ is totally unfair.
Speaking about this, Abdul Razzak Dawood said that he is not satisfied with the current state of affairs of auto industry with respect to own money in sale of cars.
He stressed that it must be eliminated and car assemblers should cancel the dealerships of those dealers who are involved in such practice. He added that new players are coming in this sector.
He said that he has raised the issue with the stake holders.
"We have contacted the auto industry to stop taking own money as it is unfair on the part of the dealers," the advisor said.
If the dealers still demand for own money, there dealership will be suspended, he said.
Own money is an illegal selling practice by car dealers in Pakistan to exploit buyers.
The car dealers are of the view that they don’t have any other area in which they invest their money, so that is why they book cars ahead of their production and earn huge profit. Moreover, the car dealers also charge customers own money by saying that the money is going to the company.
