A cabinet meeting held today under Prime Minister Imran Khan’s
supervision reviewed Pakistan’s overall political and economic strategy alongside
other developmental affairs, that concluded within the approval of the
country’s first-ever Electric Vehicle (EV) policy.
The cabinet also gave approval to the Mobile Manufacturing
Policy and therefore the other resolutions of the Economic Coordination
Committee (ECC).
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The Minister for
Production and Industry, Hammad Azhar, tweeted the subsequent salient points of
the EV policy for cars:
• 1 percent nuisance
tax for locally made EVs up to 50 kWh and lightweight commercial vehicles up to
150 kWh.
• Duty on the import
of charging equipment coated at 1 percent.
• Federal Excise Duty
(FED) doesn't apply to EVs.
• Tax-free import of
plant and machinery for the manufacture of EVs.
• Deduction of Additional
tolls and Accounting Services and Tax (AST) on imports of EV cars.
• For Manufacturers:
just one tax on the import of EV parts.
• Registration &
annual renewal fee contract for EVs in Islamabad.
The EV policy for
two-wheel and three-wheel EVs was approved last week during a gathering of the
ECC in Islamabad that was chaired by the Minister for Finance and Revenue, Dr.
Abdul Hafeez Sheikh, no matter whether the infrastructure is going to be
sufficient to cater to the requirements of the EV market in Pakistan, an enormous paradigm shift within the local automotive industry seems impending
with the approval of the EV policy.
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