IslamabadThe IMF cleared Pakistan’s auto policy in 2 days.
A new levy on conventional cars will pay for electric-vehicle and export incentives.
The policy targets $6bn of exports over 5 years, with a 5% tax drawback for manufacturers that meet localisation goals.
Most of Pakistan’s auto exports today are parts, not vehicles, the industries adviser said.
The federal cabinet takes up the policy next.
How each outlet framed it
- Dawn
- explains the Automotive Development Levy as revenue-neutral, with ICE vehicles up to 1,000cc exempt and a 20% advance-payment cap
Sources: Dawn