Car Prices To Go Down? New Auto Policy 2022-2026 on its way. From the last few years, Pakistan automobiles astonishing progress towards in automobile industry’s Government of Pakistan will compose automobile policy for upcoming five years from 2022-2026. As per the source Government will thinking about reducing the small car price.
The Auto Development policy was dormant at one place there were no significant things were introduce for many years, so this Government will create more opportunities for international brands. The same sources say that for all small cars. In the last few years back Pakistan hail many brands like KIA, United, Proton, DFSK, and others for those customers who can choose under their capacity. They also introduced many cars for the middle-class consumer as well.
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Pakistani buyers have also complained about price tags, making it impossible for an ordinary buyer to buy a brand new car directly from the company.
Clue of New Auto Policy from 2022-2026
According to the Ministry of Industry and Production sources, the Government plans to set a maximum limit of PKR 10 lacs that will allow customers to get 4-5 lacs tranquillity as per current price trends.
Another motive for this new ADP is to prohibit local car manufacturers from the ruling. We currently have taxes and duties on imported vehicles of 30-40%. The government is therefore preparing to slash taxes and duties on imported vehicles and reduce taxes on imported CBU units.
The final version of the policy is expected to be formulated by March 2021. Current ADP 2016-2021 will end on 30 June 2021, so the new ADP is expected from 1st July 2021 onwards.