After the Federal Minister for Industries and Production, Khusro Bakhtiar, announced that the federal government’s new Auto Policy, all major car producers in the country have followed suit in reducing car prices.
After announcing the budget for the fiscal year 2021-22, the government had already promised to work the automobile sector of Pakistan to reduce taxes on vehicles, which would make them more affordable.
The two major highlights, namely introducing the EV policy to incentivize the manufacturing and introduction of electric vehicles in the Pakistani market and reducing taxes for cars with power less than 850cc, were prime indicators.
These are the updated price lists for the most prominent car companies in Pakistan at the time.
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Toyota
KIA
Suzuki
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Honda
Ali Asghar Jamali, Chairman PAMA, commented on the policy, saying, “I would like to strongly appreciate the present Government for a very progressive Auto and Hybrid Electric Vehicle Policy.”
He further added, “the announced policy interventions are aimed at translating the vision of Prime Minister Imran Khan, which is all about growing the local industry and creating more jobs for our local youth. The policy also addresses the Prime Minister’s vision for promoting environmentally friendly technologies by promoting Hybrid Electric Vehicles.”