ISLAMABAD: Finance Minister Muhammad Aurangzeb announced significant changes to Pakistan’s vehicle import policies, ARY News reported.
In a Senate Finance Committee meeting chaired by Saleem Mandviwala, the minister said that the commercial import of vehicles up to five years old will be permitted, subject to a 40% duty, starting September 2025.
Additionally, under the baggage scheme, individuals who have resided abroad for at least 700 days will be allowed to import such vehicles.
The minister outlined a phased reduction in duties for imported used vehicles. From July 1, 2026, vehicles older than five years can also be imported, with the duty reduced to 30%. This duty will further decrease to 20% from July 1, 2027, and to 10% from July 1, 2028. By July 1, 2029, the duty on imported used vehicles will be completely eliminated, dropping to zero.
Read More: IMF ‘asks’ Pakistan to impose carbon levy on petrol, diesel
Yesterday, the National Assembly Standing Committee on Finance recommended the imposition of a carbon levy on all locally manufactured and imported petrol and diesel vehicles with engine capacities above 1300cc.
The decision was made during a recent meeting of the National Assembly Standing Committee on Finance with Pakistan People’s Party MNA Syed Naveed Qamar in chair.
The committee endorsed a 2 percent carbon levy on petrol and diesel vehicles with engine capacities ranging from 1300cc to 1800cc, applicable to both locally produced and imported units.
For vehicles exceeding 1800cc, a 3 percent carbon levy has been approved for both local and imported petrol and diesel models.
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