Affect of Regulatory Duty Hike of Imported Cars

Jawad

25 Aug 2022

348

Affect of Regulatory Duty Hike of Imported Cars

It is time to deliver what government of Pakistan promised, to make it impossible to buy imported cars.

After looking at conditions of shattering economic charts, the government decided to ban the import of non essential and luxury items. But some of the international requirement made the government to change its decision.

The Finance Minister has announced to end the import ban on non essential and luxury items, included imported cars (CBU). He said in a statement that government will import strict duties on non essential and luxury items to control depleting foreign reserves.

Regulatory Duty Hike

It has been reported that the regulatory duties on cars larger than 1000cc has been increased up to 100 percent, which had previously been 15 percent. It means that duties imposed on CBU cars has observed the hike of 85 percent. As a result of which cars prices will increase and local market will witness a fresh price hike.

The federal Board of Revenue has issued has issued SRO1571(I)/2022 under which the increased rate of regulatory duty would be applicable from August 22, 2022 to February 2023.

These increase in the regulatory duty hike will affect these cars, listed among the most famous imported vehicles in the country.

Vehicles	Current Price (Rs.)
Toyota
Corolla Cross Base Grade	12,249,000
Corolla Cross Mid Grade	13,099,000
Corolla Cross High Grade	13,419,000
Prius S	14,649,000
Rush G Manual	8,009,000
Rush G Automatic	8,329,000
Camry	23,319,000
Honda
CR-V	10,700,000
Accord	15,499,000
Suzuki
Jimny	6,049,000
APV	6,290,000
Kia
Carnival GLS	10,199,000
Carnival GLS+	12,599,000
Carnival Executive	12,600,000
Hyundai
IONIQ	7,000,000
Santa Fe	18,500,000
Staria 3.5 Automatic	7,199,000
Staria 2.2D Manual	7,349,000
Staria 2.2D Automatic	7,749,000
Staria HGS	9,299,000
MG
HS 1.5T	8,900,000
HS PHEV	8,499,000
ZS 1.5	4,399,000
ZS EV	6,250,000
ZS EV Facelift	7,017,000