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Expected Provision of 1000cc Cars at Cheaper Rates

06 Jan 2023   336
Expected Provision of 1000cc Cars at Cheaper Rates

Expected Provision of 1000cc Cars at Cheaper Rates

The government has reduced the custom duty on the import of vehicles, which are less in power. The revenue division has issued a notification regarding an amendment in the import duty on the import of all types of vehicles in the country. The government decided to reduce the import duty on cars with 1000cc or smaller engines vehicles from 30% to 15%. The government has decreased the imports of tire tubes from 25% to 16%. The customers can check the Expected Provision of 1000cc Cars at Cheaper Rates.
The older models with the same engine displacement will have the reduced custom duty from 32.5% to 30% and the notification also shows that a 15% concession is valid for three years and the Engineering Development Board has also certified new model cars. 


Relaxation of Auto-Sector Imports

State Bank of Pakistan has normalized the sanctions on the Completely Knocked Down kits for the local car assemblers. The official notification of SBP mentioned that the central bank made the decision to undo restrictions, being imposed on import from 02 January 2023 and it will facilitate the acceptance of import transaction requests, which are filed with SBP. 
The government has removed the import sanctions and reduced the import duties on small cars and the car companies will restart their production and sales of the cars. 

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