PM Gives In-Principle Approval to New Auto Policy 2026-31

Prime Minister Shehbaz Sharif on Wednesday offered in-principle approval to Pakistan's new Auto Policy 2026-31, sources informed ProPakistani a short while ago.

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• After cabinet approval, the policy will be presented in Parliament and then enacted into law through a Finance Bill.
• The policy will now be shared with the International Monetary Fund (IMF).

In practice, the policy will now be shared with the International Monetary Fund (IMF). Sources made public that after receiving the lender's approval, it will be presented before the Economic Coordination Committee (ECC) of the federal cabinet.

As the policy faced countless delays after the FY27 budget negotiations due to disagreements with the local automobile industry over the proposed framework for electric vehicles (EVs), hybrids, taxation, and localization, this is a major breakthrough.

Notably, the policy intends to promote EVs and hybrid vehicles, encourage local manufacturing, rise technology transfer, and reduce Pakistan's dependence on imported petroleum products. Stay Connected with ProPakistani.

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For now, PM Gives In-Principle Approval to New Auto Policy 2026 remains the part of the story worth watching, and further updates are likely as more details are confirmed.