Rahim Yar Khan Car Mandi

27/11/2022

26/12/2021

In recent news, the government has officially decided to provide incentives to electric vehicles (EVs) under the Auto Industry Development Export Policy (AIDEP), The purpose of this policy is to further promote small cars and further emphasize the introduction and adoption of new products that would be based on electric power.

This is currently a draft that was released by the Engineering Development Board of the Ministry of Industries and Production which also stated that the customs duty on specific parts of electric vehicles has been reduced to 1 percent. In addition, the policy has also allowed hybrid manufacturing as sales tax has been reduced to 8.5 percent, whereas, customs duty on specific parts for hybrid EV and plug-in hybrid EV have been narrowed down to 4 percent and 3 percent respectively.

Moreover, the draft stated that the import of vehicles will not be allowed if they do not meet the required safety standards. According to the document:

“No vehicle shall be locally manufactured/imported after June 30, 2022, which is not compliant of shortlisted WP 29 regulations.”

24/12/2021

The government is considering establishing a price regulating board to determine car prices in order to break the automakers’ dominance.

According to media reports, automakers promised the government that they would not raise vehicle prices as a result of a reduction in industry taxes in the budget for fiscal year 2021-22.

However, they did not keep their word and raised car costs, which displeased the Ministry of Industries and Production.

Furthermore, officials highlighted that automaker had continued to take “own money” from customers in exchange for quick delivery of new vehicles.

Read more: https://www.aboutpakistan.com/news/car-prices-to-be-fixed-in-pakistan-under-new-regulatory-body/

22/12/2021

https://propakistani.pk/2021/12/21/govt-to-fix-car-prices-in-pakistan-under-new-regulatory-authority/