Wednesday , December 7 2022

Auto Policy 2021-2026 What are Main Points

Islamabad: The Federal Government has developed the (AIDEP) Automotive Industry and Export Development Policy (2021-2026) with the aim of improving the quality of cars, adding safety features, and making small cars more accessible to Pakistani buyers. Below read online & follow the Pakistan Auto Policy 2021-2026 What are the Main Points announced by the Govt of Pakistan.

Auto Policy 2021-2026 What are Main Points

The government has proposed a tax exemption for domestically produced cars with engines up to 800 CC, according to a document issued by the Ministry of Industry. Pakistan Auto Policy 2021-2026 Main Points that what are the silent features, new rules, and regulations.

Auto Policy 2021-2026 What are Main Points

  • Import duties on electric vehicles (EVs) will be reduced to 10% from 25%
  • If the vehicle manufacturer delays the vehicle for more than 60 days (2 months), the company will pay KIBOR + 3%.
  • Viewing the tax exemption on imported cars every year.
  • Car manufacturers set a target to export 10% by 2026.
  • Tax incentives for the export of cars and spare parts.
  • Customs duties on spare parts for electric vehicles are set at 1%.
  • Reducing customs duties on CBU imports of electric vehicles from 25 to 10 percent.

In order to lower the prices of locally assembled cars, the government lowered the GST from (17% to 12%) and eliminated 2.5% FED & ACD on cars with a capacity of up to 1,000 CC. Then for cars from (1001cc to 2000cc) With this, the prices of cars up to 1000cc can be reduced by Rs 145,000 rupees, the prices of cars between 1001cc to 2000cc will go down by as much as Rs 170,000, and for cars 2000cc and above, a reduction of up to 230,000 CC can be expected.

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FED was reduced from (5% to 2.5%) while 7% ACD was reduced to 2%. For vehicles above 2,000 cc, 7.5% FED was minimized to 5% while 7% ACD was reduced to 2%. Pakistan Auto Policy 2021-2026 Main Points PDF Download silent features.New auto Policy Pakistan 2022 implemented from July 2021 to June 2026 important rules approved.