ISLAMABAD - The government is considering to allow the import of cars used for more than ten years to bring down their prices and end the monopoly of local automobile manufacturers. Well placed sources told TheNation on Thursday that Federal Board of Revenue (FBR) had forwarded recommendations regarding import of used cars for governments approval and decision to this effect would be announced in the Federal Budget for the financial year 2009-10. The decision is taken in order to eliminate the monopoly of the local manufacturers in the country as they are raising the prices of cars at their own which has also resulted in lower sale of automobiles. The government is already importing three yeas used cars in the country but due to the rising prices of the cars in the domestic markets the government is thinking to import the ten years used cars. According to the economic experts the decision of importing cars would be fruitful as by doing so there would be competition in the country among the locally manufactured and imported cars. This would also eliminate the monopoly of the existing manufacturers, and the people would buy vehicles at reasonable prices. According to the figures released by Pakistan Automotive Manufacturers Association it was revealed that in the first nine months (July-March) of the current financial year the sales of automobiles plunged by 49.5pc mainly due to high prices and costly leasing. The car sales totalled to 54,072 units in July-March as compared to 107,262 units in the corresponding period last year, the data further revealed. The sources further said that the prices of imported cars would be less as compared to those which are manufactured in the country and no extra burden would be put on the consumers. A motor dealer, Muhammad Tahir said that the major reason of rise in the car prices in the country was sheer monopoly of car assemblers due to lack of competitors in the form of reconditioned cars. When contacted the official of Pakistan Automotive Manufacturers Association said, The government should import used motor cars but they should also announce a rescue package for us like cut in taxes and lower the interest rate in the budget for 2009-10, followed by Trade Policy. He further said, We would welcome the government decision of importing cars as by this people would be benefited but our business ruined due to the high rate of interest.