Masafumi Harano asks EDB to delay announcement of EV&HV policy for one year
KARACHI: The Chief Executive Officer (CEO) Pak Suzuki Motor Company, Masafumi Harano Wednesday asked the Engineering Development Board (EDB) to delay the announcement of Electric Vehicle (EV) and Hybrid Vehicles (HV) Policy for the next one year because of huge losses to auto industry amid the coronavirus (COVID-19) in Pakistan.
In a letter sent to Raza Abbas Shah, Chief Executive EDB, Mr. Harano said, “this will give us more time for brainstorming and industry will also get much needed time to recover from the current situation.”
In the letter CEO Suzuki said, “the decision has been taken due to the current situation arising out of COVID-19 pandemic, the auto industry is in so much trouble and huge losses are expected in this year.”
Giving the reference to subject policy, Mr. Harano said that in this 31st AIDC meeting held on March 12, 2020, the tariff rates for Car, SUV and LCV were discussed and finalized. But in the draft policy, the tariff rates mentioned do not reflect the figures discussed and finalized in the said meeting.
Mr. Harano said in the letter that we proposed new tariff rates to be incorporated in the Electric & Hybrid Vehicles Policy as mentioned in the working papers of 30th & 31st AIDC meeting and discussed and finalized in the 31st AIDC meeting.
Tariff incentive for Car, SUVs & LCVs:
As car segment is already operating under annual development plan (ADP) 2016-21, following incentives have been proposed for car, Sports Utility Vehicles (SUVs) and Light Commercial Vehicles (LCVs) in line with the policy:
Detailed tariff structure (Custom Duty) for cars, SUVs and LCVs falling under HS Codes 8503 & 8704 requested to be as under.
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