Cabinet 🇵🇰 has yesterday approved the Electric Vehicle policy for 4 wheelers

 Cabinet

has yesterday approved the Electric Vehicle policy for 4 wheelers

Salient features:

- Removal of Addn Customs duty and AST on imports of EV cars.

- For Manufacturers: only 1% tax on import of EV parts.

-Registration & annual renewal fee waiver for EVs

-1% sales tax for local made EVs up to 50kwh & light commercial vehicles up to 150 kwh

-Duty on import of charging equipment capped at 1%

-FED already does not apply to EVs

-Duty free import of plant & machinary for manufacturing