Govt Set to Remove Extra Duties Under New Auto Policy

Pakistan's new auto policy is nearing completion and set to be launched soon, according to Special Assistant to the Prime Minister Haroon Akhtar Khan. Speaking on a private news channel, Akhtar revealed that the policy would also eliminate additional customs duties and regulatory fees. The government has been working diligently on the framework, taking note of major shifts in the automotive industry, such as heightened competition, the rise of electric vehicles, and the implementation of a national tariff policy.

The number of car manufacturers in the country has surged from three to 13 under the past two policies, making competition a crucial factor in crafting the new policy. The significant advancement in electric vehicles has also played a pivotal role in shaping the policy. Extensive deliberations have taken place on the framework, and now the focus is on its legalities.

The government has deliberately extended the formulation time to prevent any repetition of errors from prior policies. A primary goal of the new policy is to make vehicles more affordable for consumers while ensuring a balance that enables locally produced vehicles to compete with those in the global market.