{
  "id": 12638490,
  "title": "Electric Car Buyers to Get 5-Year Rs. 1 Crore Loans",
  "url": "https://urgent.news/2026/10/07/electric-car-buyers-to-get-5-year-rs-1-crore-loans",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-07T13:28:14.000Z",
  "source": {
    "name": "ProPakistani",
    "slug": "propakistani",
    "url": "https://propakistani.pk/2026/10/07/electric-car-buyers-to-get-5-year-rs-1-crore-loans/"
  },
  "original_language": "en",
  "account": "Pakistan's government is set to introduce substantial tax incentives and financing assistance for consumers of electric and alternative energy vehicles, as outlined in the draft Automotive and Auto Parts Manufacturing Policy 2026-31. This policy, currently under review, details plans to offer financing up to Rs. 10 million for new energy vehicles (NEVs) over a five-year period, alongside initiatives to enhance charging infrastructure and introduce battery-swapping and battery-as-a-service schemes. Locally manufactured NEVs will benefit from reduced GST rates, exemption from Federal Excise Duty, Capital Value Tax, and Withholding Tax, provided they do not surpass a price cap of $75,000. The government also intends to lower customs duties on battery electric vehicles (BEVs) priced at $15,000 or less, with a temporary 5% duty applicable during the fiscal years 2026-27 and 2027-28. To facilitate the shift from traditional internal combustion engine (ICE) vehicles, the policy includes an Auto Development Levy on ICE vehicles, aimed at financing the transition to NEVs, research and development, and vendor development. Additionally, the policy seeks to boost local production and value addition of electric vehicles and their components. The draft policy is still under consideration and has been reviewed by multiple government committees since June.",
  "summary": "Pakistan is planning major tax incentives and financing support for electric and new energy vehicle buyers under its draft Automotive … Read More The post Electric Car Buyers to Get 5-Year Rs. 1 Crore Loans appeared first on ProPakistani .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}