Ready to add to cart? The three-day Great Online Sale has begun, with discounts of up to 95 per cent at your fingertips this weekend
"We did not receive any application by the deadline. So, the facility of duty free import (of 300 cabs) will no more be available to anybody," said a senior official of the Ministry of Industries and Production.
Asked about the future of Prime Transport Limited's project for import and manufacturing of Black Cabs, he said it should better be asked to the investor. "We had offered a facility but perhaps nobody is interested", he added.
The official said the government would welcome any investment project or setting up of a plant for car manufacturing but the duty free import of taxis will no more be there.
Interestingly, the government had already allocated 400 acres of land in Karachi in addition to large plots for taxi stands at all domestic and international airports to Prime Transport Limited (PTL) even before it advertised import of zero rated cabs.
In a related development, a PTL official said that "his company is seriously reconsidering the whole project but an expenditure of $3-4 million we have already made is keeping us tied up". PTL's foreign partner — LTI Vehicles of UK — has on the other hand confirmed that its "Black Cab is the only purpose built taxi in the world" and it has not authorised any other company to import or assemble/manufacture this vehicle in Pakistan except PTL.
In a letter to the Ministry of Privatisation and Investment on May 31, the company has threatened to "contest unauthorised import/assembly of manufacture of Black Cab by any company other than PTL". He said his project involved a total investment of $850 million including 45 per cent equity put together by LTI of UK and a number of other PTL shareholders, mostly his family members. Rest of 55 per cent funding comes from foreign banks.
He agreed that the government messed up the whole affair but declined to comment on tender process or as to why he did not formally respond to the tender. About his company's financial strength, he said his family had franchise food chains in the US but declined further details. The PTL claims on its website that it has already been allowed duty and tax free import of 300 CBUs of black cabs from the UK and then manufacturing of 6000 cabs per annum at a specifically created industrial zone at Dhabeji, about 19 kilometres from Port Qasim, Karachi.
None of the existing car manufacturers hold even 100 acres of land. Maximum engine capacity of the existing radio in Pakistan cabs is 2.0 litre compared with 2.4 litre minimum engine requirement of black cabs.
Ready to add to cart? The three-day Great Online Sale has begun, with discounts of up to 95 per cent at your fingertips this weekend
In Hiroshima, the city devastated by the first nuclear bomb, the biopic's Academy Awards success met a mixed reaction
The Bollywood actor hosted the inaugural Hope Gala in London attended by prominent global personalities
More than 50 people are coming in to get the shot every day, doctors say
The nol cards can be used not only for public transport but also to make essential purchases at participating retail outlets in the emirate
The Italian company stands as the first Italian real estate brokerage group operating in the UAE
'The Australian batter also thinks 'there's no one better in India to have behind the stumps'
Policybazaar.ae unveils heartfelt short film advocating the need for term insurance