Govt to Punish Car Makers for Missing Export Targets Under New 5-Year Policy
The federal government plans to punish automobile manufacturers and Tier-1 auto parts companies for missing mandatory export targets under the … Read More The post Govt to Punish Car Makers for Missing Export Targets Under New 5-Year Policy appeared first on ProPakistani .
The Pakistani government is set to penalize car manufacturers and auto parts companies for failing to meet export targets under the new five-year auto policy, according to the official draft obtained by ProPakistani. The policy introduces Mandatory Export Targets (METS) for original equipment manufacturers (OEMs) and Tier-1 manufacturers, with severe penalties for companies that do not reach the required levels.
In addition, a Duty and Tax Remission for Exporters (DLTL) scheme will provide a 5 percent baseline compensation and an extra 10 percent for increased exports. An Export Facilitation Council will be established to manage export targets, market development, and international trade promotion. Furthermore, a Vendor Upgradation and Technology Transfer Programme aims to bolster local auto parts manufacturers and foster industrial clusters.
These measures are intended to aid Pakistan's auto industry in shifting from a mainly domestic market to one that focuses more on exports. The draft policy will now be reviewed by the Economic Coordination Committee of the federal cabinet before being approved.
Written by urgent.news from ProPakistani's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
