Govt announces new auto policy, gives tax relaxation
Govt to set up new automobile factories across the country
ISLAMABAD (Dunya News) – Government has announced a new auto policy on Monday which stated 10% tax decrease on the imported vehicles after 2 years, reported Dunya News.
New auto policy stated that 5%-2 and a half % tax will be decreased on raw material and spare parts used to manufacture 1800cc vehicles. After two years, tax on imported vehicles will be given 10% discount.
The policy also stated that local production of vehicles will be increased from 1and a half million to 3 million in order to create new opportunities for employment.
