As new Auto Policy (2021-2026) has announced several benefits for the auto industry, the prices of vehicles have started coming down, officially. According to a notification, Morris Garage (MG) has reduced the price of MG ZS EV by Rs600,000.
The previous price of the car was Rs6,850,000, while the new ex-factory price will be Rs6,250,000. So, a great news for the EV lovers.
Electric Vehicles Policy:
Last year in December, the federal government approved and announced massive tax exemptions for 4-wheeler electric vehicles in Pakistan. Minister for Industries and Production, Hammad Azhar, made the announcement in a tweet.
The minister shared the salient features of the EV policy for 4-wheelers, approved by federal cabinet today, which are:
Features of Policy for Electric Vehicles:
- Removal of Additional Customs Duty and AST on imports of EV cars
- Only 1% tax on import of EV parts for local manufacturers
- No Registration and annual renewal fee for EVs in Islamabad
- 1% sales tax for local made EVs up to 50kwh and light commercial vehicles up to 150 kwh.
- Only 1% Duty on import of charging equipment
- No Federal Excise Duty (FED) on Electric Vehicles
- Duty free import of plant and machinery for manufacturing of EVs
