In the fiscal budget 2021-22, the Khyber Pakhtunkhwa (KP) has announced that car registration will now cost only Rs.1 in the province. Sharing the decision on Twitter, KP Finance and Health Minister Taimur Khan Jhagra wrote: “Register your new car in KP for one rupee. Take pride in your province.”
He further wrote that the new policy is for cars under 2500cc. “The discounted registration fee is 1% (4% in Islamabad),” Jhagra further explained. He further said that registration is free for all KP residents, further encouraging the citizens to re-register from a non-KP number plate for free.
Universal Number Plate:
Making another announcement for car owners, Jhagra said that Excise and Taxation are ready to introduce a universal KP number plate and an easy to access online registration. “Proud to work in a team led by Chief Minister Mehmood Khan that is transforming the province,” he concluded.
So, if you are a resident of KP, this is the time to register your vehicle. The announcement is indeed a great one for the citizens, and it will encourage the people to get their cars registered quickly and easily.
2. Excise and Taxation ready to introduce a universal KP number plate, and an easy to access online registration.
Proud to work in a team led by CM @IMMahmoodKhan that is transforming the province. pic.twitter.com/7AoQcx68NX— Taimur Khan Jhagra (@Jhagra) June 18, 2021
The move by KP came after the federal government announced tax reductions for locally assembled cars under 850cc. As per the federal fiscal budget 2021-22, the government has removed Federal Excise Duty (FED) from these cars and reduced sales tax from 17% to 12.5%.
While speaking at National Assembly, Federal Finance Minister Shaukat Tareen said that sales tax on these cars also has been reduced to 12.5% from 17%, meaning the reduction of 4.5%.
It means the prices of Suzuki Alto, Prince Pearl, Suzuki Bolan, and United Bravo will be reduced up to Rs1,13,000.
The minister further said that the government wants to support electric vehicles in Pakistan. “That is why we are offering a lot of tax relaxations to them,” Tarin said. It is essential to mention that the new reduced prices will be implemented from July 1.
