Car prices likely to go down as govt slashes FED on local assembled cars
Last updated on: 01 July,2021 01:41 pm
For 2001cc to 3000cc vehicles, the FED has been reduced from 7.5% to 5%.
ISLAMABAD (Dunya News) –Prices of locally assembled cars are likely to go down by Rs50,000 to Rs150,000 after government slashed Federal Excise Duty (FED) on cars of up to 3000cc.
According to details, 2.5 percent FED on cars of up to 1000cc has been completely abolished while for 1001cc to 2000cc vehicles, the FED has gone down from 5% to 2.5%.
For 2001cc to 3000cc vehicles, the FED has been reduced from 7.5% to 5%.
However, government also cut GST from 17% percent to 12.5% for engine capacity of up to 1000cc on locally assembled cars.
After the reduction is prices, car prices of all variants are likely to go down by Rs50,000 to Rs150,000 and local manufacturers are likely to soon release a notification in this regard.