Pakistan approves EV policy for locally and imported vehicles
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Registration and annual renewal fee for EV cars will be waived, in a bid to encourage its sales
ISLAMABAD: Pakistan has approved Electric Vehicle (EV) policy for both locally produced and imported four-wheel cars.
Earlier today, the federal minister for industries and production Hammad Azhar took to Twitter and announced the new EV policy includes the removal of Additional Customs Duty and Additional Sales Tax on the import of EV cars as an incentive.
For producers and manufacturers of EVs, it is announced that the import of plants and machinery for the manufacturing of EVs will be duty-free.
On the other hand, for manufacturers of these cars locally, Azhar said there will be only 1 per cent tax on the import of parts for EV vehicles.
Separately, another feature to ensure the growth of EV market is that on the purchase of electric-powered cars produced locally, up to 50kwh and light commercial vehicles up to 150 kwh, there will only be 1 pc sales tax liability.
Another incentive for Islamabad Capital Territory, Azhar said the registration and annual renewal fee for EV cars will be waived, in a bid to encourage its sales.
Moreover, the federal minister said the import duty on charging equipment, too, is limited at 1 pc while Federal Excise Duty is already exempted from EVs.
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