High-Level Meeting Called on New Auto Policy Ahead of IMF Talks

Member of the National Assembly (MNA) Hamza Shahbaz has summoned a high-level briefing on Pakistan's upcoming five-year auto policy, sources informed ProPakistani a short while ago.

Key points

• The post High-Level Session Called on New Auto Policy Ahead of IMF Negotiations appeared first on ProPakistani.
• Authorities from the Ministry of Industries and Production are scheduled to brief Hamza Shahbaz, the son of Prime Minister Shehbaz Sharif, on the proposed automotive strategy on Wednesday.
• The briefing follows the Prime Minister's recent approval in principle of the new auto policy.
• Once the IMF formally clears it, the five-year policy framework will go to the Federal Cabinet for approval.
• That means the policy still has three hurdles to clear, the IMF, the Cabinet and Parliament, before it can take effect.

Authorities from the Ministry of Industries and Production are scheduled to brief Hamza Shahbaz, the son of Prime Minister Shehbaz Sharif, on the proposed automotive strategy on Wednesday. Policy Heads to the IMF This Week.

For context, the briefing follows the Prime Minister's recent approval in principle of the new auto policy.

In practice, the proposed policy is a key part of Pakistan's ongoing economic framework and is scheduled to be shared with the International Monetary Fund (IMF) afterwards this week. Earlier rounds of discussions with the IMF on the auto policy had stalled over objections to the draft.

Once the IMF formally clears it, the five-year policy framework will go to the Federal Cabinet for approval. It will then be laid before Parliament for final legislative ratification.

That means the policy still has three hurdles to clear, the IMF, the Cabinet and Parliament, before it can take effect. What This Means for Car Buyers.

For context, the new policy is closely watched by buyers since it is anticipated to change taxes and duties on vehicles. It could bring car rates down. Until it clears all three stages, nevertheless, current rates and costs remain in place.

Meanwhile, the post High-Level Session Called on New Auto Policy Ahead of IMF Negotiations appeared first on ProPakistani.

For now, high-Level Meeting Called on New Auto Policy Ahead of IMF Talks remains the part of the story worth watching, and further updates are likely as more details are confirmed.