ISLAMABAD (Kashmir English): Petrol vehicles in Pakistan may become cheaper by up to Rs1 million under the proposed new auto policy, following planned reductions in federal excise duty and customs duty.
According to a policy document, the government has decided to reduce vehicle prices on the special instructions of Prime Minister Shehbaz Sharif.
The document proposes a price reduction of Rs375,000 for locally manufactured vehicles with engine capacity of up to 658cc, bringing their price down from Rs3.22 million to Rs2.845 million.
Similarly, petrol vehicles with engine capacity of up to 998cc are expected to become cheaper by Rs440,000, reducing their proposed price from Rs4.27 million to Rs3.83 million.
Petrol SUVs with engine capacity of up to 1,496cc may see a reduction of Rs740,000, with prices falling from Rs6.06 million to Rs5.32 million.
For 1,498cc petrol SUVs, the proposed reduction is Rs280,000, bringing prices down from Rs9.44 million to Rs9.16 million.
The document also proposes a Rs1 million reduction in the price of petrol jeeps with engine capacity of up to 1,598cc, from Rs12.1 million to Rs11.1 million.
The proposed changes are aimed at reducing the cost of petrol-powered vehicles through lower taxes and duties under the new auto policy.
