Under the new auto policy approved on the special directive of Prime Minister Shehbaz Sharif, a reduction in Federal Excise Duty (FED) and Customs Duty is expected to lower the prices of petrol-powered vehicles by up to 1 million (10 lakh) rupees. Details regarding the new prices for various vehicle categories have also been released.
According to the details, Haroon Akhtar, an advisor to the Prime Minister, stated during a press conference in Islamabad on November 7—alongside Federal Minister for Information Attaullah Tarar—that the new auto policy has been approved following extensive consultations. The policy aims to gradually reduce vehicle prices, boost exports from the auto sector, and improve the quality of locally manufactured vehicles.
According to Haroon Akhtar, the new policy is expected to reduce the price of a locally manufactured petrol vehicle (with an engine capacity of up to 658cc) by 375,000 rupees; consequently, the price will drop from 3,220,000 rupees to 2,845,000 rupees.
As reported by media, the price of a locally manufactured vehicle with an engine capacity of up to 658cc is expected to decrease by 375,000 rupees, bringing its price down from 3,220,000 rupees to 2,845,000 rupees.
Similarly, the price of a petrol-powered vehicle with an engine capacity of up to 998cc will be reduced by 440,000 rupees, lowering its price from 4,270,000 rupees to 3,830,000 rupees.
According to the document, a price reduction of up to Rs 740,000 is expected for petrol-powered SUVs with an engine capacity of up to 1496 cc; consequently, their price will decrease from Rs 6,060,000 to Rs 5,320,000.
Furthermore, a reduction of Rs 280,000 has been proposed for 1498 cc petrol-powered SUVs, which will bring their price down from Rs 9,440,000 to Rs 9,160,000.
Similarly, a significant price reduction of Rs 1 million (Rs 10 lakh) is expected for petrol-powered jeeps with an engine capacity of up to 1598 cc, lowering their price from Rs 12.1 million (Rs 1 crore 21 lakh) to Rs 11.1 million (Rs 1 crore 11 lakh).
Also Read: New Auto Policy: Check which cars could become Rs1 million cheaper in Pakistan
