Miftah Ismail proposes withdrawal of 16pc Customs duty

ISLAMABAD (Dunya News) – Aimed at promoting usage of electric 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.