National Treasury spends US$ 80m on tyre smuggling per annum


Once again, the smuggling of used tyres from both China and India has come back again causing the national treasury to loss US$ 80m per year.



Reliable sources from the tyre industry has said that the Chinese and Indian market are now bombarded with smuggled used tyres due to the negligence of the government to put a halt to this illegal act.



They also said that it the government has failed to give protection to local tyre makers who have spent millions of dollars to manufacture tyres.



This situation can be considered as the worst in the tyre industry as the two-third of the market share belongs to the smuggled used tyres.



Numbers of local tyre players are injured due the immoral acts of other industry players who can openly play their game without being scolded by the government.



This kind of act has put the national treasury in great depression through taxes and duties.



Local markets suggested that the authorities should put an end to this unscrupulous operation to fix the lost funds.



According to the experts, Chinese and Indian government should control this situation before the repercussions become worse in the days, risking the lives of many innocent people who will be using the low quality tyres and before it takes its toll on the local industry. (RJA)