Budget 2018-19: Government Reduces Custom Duty

Yesterday was marked as history day in Pakistan as the government presented their 6th budget in the national assembly. This budget is been announced by the financial minister dr miftah Ismail. During miftah’s one hour long speech he announced tax relaxation for many sectors like agriculture and information technology. And the same the government also announced tax relaxation for the automobile sector as well.
According to the budget 2018-19 these are the relaxations that are been given to the automobile sectors:

16% customs duty has been reduced on charging stations for electric cars.
50% to 25% custom duty has been reducted and 15% RD has been reduced on electric cars.
50% to 10% custom duty on kits of electric cars has been reduced.
Non filers won’t be allowed to purchase new motor vehicle manufactured in Pakistan o r new imported vehicles.
The old, vantage and classic cars will be imported on fix duty taxes us $5000. This means that now vintage and classic cars will be allowed o import into the country.



30% to 10% custom duty has been reduced on firefighting vehicles.
After looking at the above steps it is clear that the government is really concerned with the climate change and is relaxing custom duties on electric cars to encourage people t buy electric cars. The main thing that is needed to be noted is that on global scale many other governments are moving towards the electric cars to control the fossil fuel powered vehicles which are the actual cause of pollution. Moreover the government is also searching for a renewable power generation sources to control the climate change and global warming.

Electric cars are replacing fossil fuel powered car rapidly, in Pakistan also an individual has imported a tesla car which shows the popularity of the electric cars. We can expect more electric cars being imported to Pakistan especially from chine in the near future.