The ministry said the issuing of import licences has been suspended pending the completion of a review of the quota system introduced in December 2006.

In a statement, the ministry said the review is intended “to examine the many facets of the foreign used car industry, including the efficiency of the granting of licences.”

The Pre-Owned Motor Vehicle Dealers Association has accused the ministry of a conspiracy to shut down the industry because it said no import licences have been issued for this year.

Dealers have organised a protest demonstration outside the head offices of Ministry of Trade and Industry in Port-of-Spain for this morning to highlight their grouses.

However, the ministry said that as of January 23, it had issued 2,900 licences to the 352 registered foreign used car dealers in the country.