The government has showered auto assemblers with a number of incentives like a cut in the Federal Excise Duty (FED) by 2.5 per cent, additional customs duty (ACD) from 7pc to 2pc and general sales tax (GST) to 12.5pc from 17pc on cars up to 1,000cc. Consumers have recently witnessed price cuts of Rs11,000-400,000 on different engine power vehicles.
Industry people believe that the cut in duties and taxes in Budget 2021-22 is an integral part of the new Auto Development Policy 2021-2026 and some more relief measures are on the cards when the new auto policy will be unveiled.
Indus Motor, Suzuki reduce car prices tribune.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribune.com.pk Daily Mail and Mail on Sunday newspapers.
The industries minister says that the government will like to see an increased footprint of electric vehicles to improve the environment and to reduce oil import bill. Reuters/File
ISLAMABAD: Federal Minister for Industries and Production Makhdoom Khusro Bakhtyar on Wednesday said the new policy would focus on growth and development of the automotive industry together with affordability, quality, availability and indigenisation.
In consultative sessions with auto sector stakeholders to discuss the Auto Industry Development & Export Plan (AIDEP) 2021-26, the minister said that the government would like to see an increased footprint of electric vehicles to improve the environment and to reduce oil import bill.
New policy to focus on promoting electric vehicles - Newspaper dawn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dawn.com Daily Mail and Mail on Sunday newspapers.
Car sales up 48 percent in 10 months thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.