Islamabad:The federal government has announced a new auto policy emphasizing low-cost and electric vehicles. The key features of this policy were presented by Adviser to the Prime Minister for Industries and Production Haroon Akhtar Khan during a news conference alongside Minister for Information and Broadcasting Attaullah Tarar in Islamabad.
According to Radio Pakistan, Haroon Akhtar Khan explained that the policy is built on six key pillars low-cost vehicles for middle and lower-middle-class citizens, boosting exports, promoting electric vehicles, enhancing exports localization, ensuring vehicle safety, and increasing transparency. Import duties have been reduced to lower manufacturing costs, aiming to make locally produced vehicles more affordable for low-income individuals. Special attention has been given to reducing prices for vehicles under 1300cc, and measures have been taken to enhance localization and export of automobiles, with a $6 billion export target set for the next five years.
Information Minister Attaullah Tarar stated that the new policy will support local vehicle manufacturing and exports, ensuring that vehicles remain affordable, high-quality, and environmentally friendly. He noted that the preparation of this policy involved consultations with stakeholders, analysis of technical data, and comparisons with models from other countries. Prime Minister Shehbaz Sharif has directed that facilities be created in the auto sector for the middle class. The growing use of electric scooters by girls and women for commuting to educational institutions and workplaces highlights the increasing demand for electric motorcycles and scooters, which Tarar described as essential.
The use of electric vehicles is expected to reduce the country's oil import bill, benefiting the economically disadvantaged. Tarar characterized the policy as a comprehensive initiative offering incentives for electric vehicles, underscoring the importance of promoting local manufacturing. He emphasized that the local industry can only reach its full potential if vehicles are exported post-manufacturing, thus creating jobs.