Tax relief for the auto sector is predictable to be enhanced for cars up to 1,000cc in the Finance Bill 2021, with the aim of promote affordable cars and localization in the country. The taxes reliefs obtainable on vehicles up to 850cc and Electric Vehicles (EVs) are a ray of anticipate for car buyers.
Pakistani Govt mulls tax relief to make cars up to 1,000cc affordable
The Finance Minister thought that Prime Minister (PM) Imran Khan take bold and tricky decisions to steer the market in the right direction. The meeting also discussed different concessions that could be obtainable for electric vehicles (EV) to amplify the number of such car imports.
The rural households will be agreed interest-free loans of up to three hundred thousand rupees for the cultivation productivity besides two hundred thousand rupees for acquire of equipment. Minister Bakhtyar also painted that the new auto policy will lay importance on the localization of nationally assembled vehicles in order to decrease the prices of the vehicles.