As per the news sources, The government has decided to increase import duties on electric vehicles and other Gasoline based vehicles.
The Tariff Policy Board(TPB), chaired by Abdul Razak Dawood, has prepared a recommendation to the Cabinet for increasing the regulatory duties across the Luxury Electric Vehicles.
TPB has decided to introduce a 25% regulatory levy on imports of electric vehicles with a battery capacity over 50 kWh.
The Ministry of Industry and Productions has estimated that due to the recent decrease in regulatory fees for electric vehicles (in budget 2021-22), imports of high-quality electric vehicles has massively increased, which has contributed to an increase in the current account deficit.
The government has also decided to increase the Regulatory Duty to 50 percent from 15 percent for hybrid vehicles (CBUs) from 1501 to 1800 cc engine capacity.
The meeting also made a decision to increase the Regulatory Duty on imports of Gasoline based Cars ranging from 1501-1800 cc.
From 1501cc capacity, the federal duty (FED) on domestic cars / SUVs will also be increased to 10 percent from the current 5 percent.
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