Government abolished the decision to prevent cars' sale installment

Finance Committee of Parliament omitted the Article 71 of the Finance Bill 2014, which prevents agents from granting loans for the benefit of its customers in order to acquire cars, claiming that this procedure copes with the Law of Money and Credit, as well as freedom of agents in dealing with their clients, as it felt that the installment is a known and applicable method.

Finance Committee at the National People’s Council included a depth amendment in the finance bill for 2014, by deleting Article 71 thereof, by which government prevented agents of cars’ producers from selling with installment, in an effort to reduce the import bill of cars that reached high records, and led to the doubling of the number of vehicles, which has become inadequate with the roads’ network.

Government’s amendment apposed with the objectives that it planned, including the relieve from the import bill and encourage the production, as the Finance Minister Karim Djoudi said in a statement on the sidelines of discussing the project in parliament on Monday, that he is stuck to the procedure that was imposed on agents which were given a deadline of three years in investment, in order to contribute to the development of the economy, as well as to create jobs.