MASSIVE HIKE IN PRICES OF AUTOMOBILES By Masooma Amjad Khokhar Although the government has chosen to perform a forensic audit of the country's historic increase in car prices, industry sources assert that prices have increased by almost 50% as a result of the rise in input costs over the past two years. After a 200 percent increase in advance tax in the budget for 2022–2023, some new car prices. For non-filers, the federal government has levied a 200 percent advance tax on the acquisition of vehicles with engines larger than 1600cc. An official from the auto sector ascribed the historically high price increase to rising input costs brought on by an exponential spike in freight expenses, the devaluation of the rupee, and increases in the price of steel and fuel. In addition to the regular price increases implemented by regional automakers and assemblers, a number of automakers recently announced major price hikes on automobiles. When government decided to reduce tax...