Car Prices to Decrease as Govt Finally Approves New Auto Policy

Meanwhile, the new auto policy has been approved, and car rates will gradually come down consequently, Prime Minister's Adviser on Industries and Production Haroon Akhtar has stated.

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• Addressing a press conference in Islamabad alongside Federal Information Minister Attaullah Tarar, Akhtar remarked the policy was approved after lengthy consultations.
• Akhtar remarked policies for the auto sector had been produced for the past 10 years, but exports never grew.

Addressing a press conference in Islamabad alongside Federal Information Minister Attaullah Tarar, Akhtar remarked the policy was approved after lengthy consultations. It intends to raise auto sector exports from the current $200 million to $6 billion. Exports Obtain Top Priority.

Akhtar remarked policies for the auto sector had been produced for the past 10 years, but exports never grew. This time, he remarked, a lot of work went into an export-focused policy, and vehicle exports have been given special priority.

Manufacturers that fail to meet their export targets will face penalties. Akhtar remarked the drop in car costs would mainly benefit the middle and upper-income classes.

To bring vehicle quality up to international levels, 45 extra standards have been went on to the policy. Akhtar remarked this would place cars produced in Pakistan among the best. Bigger Push for Electric Vehicles.

As their importance has grown after recent tensions in the region, the adviser remarked the administration is paying special attention to electric vehicles.

Notably, the financing limit for electric vehicles has been raised to Rs. 10 million to encourage their employ. Import duties on charging stations for electric vehicles have additionally been cut.

Akhtar remarked the new policy targets better vehicle quality, lower costs, wider employ of electric vehicles, and higher exports. He additionally stated sizeable industries are a administration priority, and the auto industry plays a key role in large-scale manufacturing. Stay Connected with ProPakistani.

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For now, car Prices to Decrease as Govt Finally Approves New Auto Policy remains the part of the story worth watching, and further updates are likely as more details are confirmed.