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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.

The Long Wait Is Over! Pakistan’s Auto Policy for the Years 2021-2026 Is Here

July 7, 2021 / By Zunair Tahir / Automotive News

Auto Policy has finally been revealed by the federal government. Khusro Bakhtiar, the Federal Minister for Industries and Production, spoke during a news conference on the new strategy.

We’ve been hearing a lot of stories and speculations concerning automobile price increases in Pakistan. Despite repeated warnings, the situation for automobile users in the country remained uncertain. The wait, however, is now over. Pakistan’s new Auto Policy 2021-2026 has been announced by the government. According to the information given, there is undoubtedly good news for automobile aficionados. Furthermore, the new Auto Policy is good news for automobile buyers in the lower middle and middle classes. Let’s go straight into the specifics!

Impact On Cars

Vehicle Prices Have Dropped

The long-awaited decision has finally arrived. Vehicle costs have been decreased as a result of the new Auto Policy. Vehicles with engines up to 850cc would have their costs reduced to as low as PKR 105,000 under the new policy. When it comes to 1000cc vehicles, costs might drop as low as PKR 146,000. Furthermore, if we look at the Toyota Yaris and Honda City in particular, the costs will drop by up to PKR 125,000.

Here is the Auto Policy for the Years 2021-2026.

In the following 1-2 days, new car prices will be applied.
To put an end to the “ON Money” mentality, the buyer must register the vehicle in his or her own name.
3,75,000 new employment will be created in the auto industry.
The auto sector has a production capacity of 4,15,000 vehicles per year. Pakistan manufactured 1,64,000 cars last year.
Cars with engines up to 850cc will have their prices reduced by up to Rs. 105,000.
1000cc rates would be reduced by up to Rs140,000.
For one year, the import tariff on electric vehicles (EVs) would be cut from 25% to 10%.
If the automobile is delayed for more than 60 days (2 months), the firm will be charged KIBOR + 3%.
The automobile industry is taxed to the tune of Rs350 billion.
The government is working on a policy for auto development and export. Not only will the policy be focused on the domestic market.