The federal cupboard has authorized the Financial Coordination Committee’s (ECC) choice permitting abroad Pakistanis to import used automobiles as much as three years outdated underneath two present schemes.
In keeping with an official assertion from the Finance Division after the ECC assembly, the cupboard endorsed a abstract from the Ministry of Commerce that amends the automobile import coverage.
Underneath the up to date coverage, imported automobiles should meet business security and environmental requirements. The utmost age for imported automobiles has been elevated from two years to 3 years, and these automobiles will stay non-transferable for one yr.
The Ministry of Commerce will now ship the case to the Ministry of Regulation and Justice for overview of the related Statutory Regulatory Order (SRO) earlier than it’s issued. As soon as vetted by the Regulation Ministry, the SRO shall be revealed on the Ministry of Commerce’s web site.
Final month, Federal Board of Income (FBR) Chairman Rashid Mahmood Langrial talked about that the federal government is contemplating lowering taxes on used cellphones introduced into Pakistan by abroad Pakistanis.
He made the remarks throughout a Nationwide Meeting Standing Committee on Finance assembly, the place taxation on each imported and regionally produced cellphones was mentioned.
The FBR chairman added that the federal government is decreasing duties on low-value used cellphones generally introduced by expatriates.
A report with proposed tax reductions is predicted to be finalized by March 2026. Through the briefing, Pakistan Telecommunication Authority (PTA) Chairman Main Basic (R) Hafeez ur Rehman shared statistics displaying that solely 6% of cellphones in Pakistan are imported, whereas practically 94% are regionally manufactured.
