New Auto Policy, Concessions on Electric and Hybrid Vehicles Announced
December 23, 2021 / By Zunair Tahir / News Pakistan
The federal government has decided to provide incentives on manufacturing and import of electric, hybrid vehicles and electric motorcycles under the new five-year auto policy.
In this regard, various types of taxes have been waived and after June 30, 2022, there will be restrictions on non-compliance with safety standards.
There will be customs duty. The sales tax on hybrid electric vehicles will be reduced by 8.5% and the regulatory duty on imports of hybrid CBUs will be reduced.
Under the auto policy, the regulatory duty on hybrid vehicles above 1800 cc will be reduced by 15% while the regulatory duty on hybrid vehicles below 1800 cc will be reduced to zero.
Under the auto policy, strict decisions have been taken to ensure safety measures. It has been decided to ban the import of vehicles for non-compliance with safety standards. It has also decided to ban the manufacture of local vehicles for non-compliance with safety standards.
After June 30, 2022, there will be restrictions on non-compliance with safety standards.