Duty on hybrid cars reduced

ISLAMABAD: Aimed at promoting usage of hybrid vehicles, which are environment-friendly, the government has proposed withdrawal of 16 percent Customs duty on electric vehicles in the federal budget for fiscal year 2018-19.

During his budget speech on Friday, Finance Minister Miftah Ismail said that the government was trying to introduce alternative sources of energy in all spheres of life in a bid to lower the dependency on usage of fossil fuel.

Miftah said that the government had proposed a reduction in Customs duty on import of electric vehicles from 50 percent to 25 percent, and 15 percent regulatory duty exemption.

He said that the government had proposed the import of CKD kits for locally assembled electric vehicles on 10 percent. Meanwhile the duty on LED lights, energy savers remain at the center of controversy in hundreds of petitions filed before High Court of Sindh. The importers seeking exemption as the goods are not manufactured locally but the FBR and government are denying concessions available as per policy to encourage energy saving devices.

Bookmark the permalink.

Comments are closed.