The federal government has announced a new auto policy, which is expected to reduce vehicle prices.
Addressing a press conference in Islamabad along with Information and Broadcasting Minister Attaullah Tarar, Adviser to the Prime Minister on Industries and Production Haroon Akhtar announced the new auto policy.
In the new auto policy, the government has increased the financing limit for electric vehicles from Rs 2 million to Rs 10 million. Customs duty on charging station equipment has been reduced to one percent and sales tax has been reduced to zero, and no additional tax has been imposed on vehicles less than 1,000 cc.
Haroon Akhtar said that many incentives have been given to electric vehicles, there is a focus on increasing the production and exports of local vehicles, the new auto policy will also reduce the cost of manufacturing vehicles, improving the safety standards of vehicles is a priority, the target is to reduce imported petroleum and import bills, and the remaining capital will be spent on health and education.
Federal Minister for Information Atta Tarar said that the Prime Minister’s focus is on providing facilities for the middle class and lower middle class, electric vehicles will improve the environment, and he has given protection to the local industry, but he has not provided any new facilities.
Atta Tarar said that there is an opportunity for car manufacturing companies from all over the world to manufacture electric vehicles in Pakistan.
