New auto policy in Pakistan is in its final stages and is expected to be launched soon, Special Assistant to the Prime Minister Haroon Akhtar Khan said.
Speaking on the program On My Radar, Haroon Akhtar said work on the policy had taken time because of several changes in the automotive sector, including increased competition, the growth of electric vehicles (EVs), and the introduction of a national tariff policy.
He said the number of car manufacturers in Pakistan had increased from three to 13 because of the previous two auto policies, making competition a key consideration in drafting the new framework.
“The biggest change has been the arrival of electric vehicles,” Akhtar said, adding that the new policy would include measures to facilitate EVs.
He said extensive discussions had taken place over the auto policy, which took enough time, and that work was now focused on its legal aspects.
A key objective of the new policy was to make vehicles more affordable for consumers.
“We have maintained a balance in the policy so that our vehicles can compete with the rest of the world,” he said.
He added that the government had taken additional time to formulate the policy to avoid repeating mistakes made in the past.
According to him, the new policy will also remove additional customs duties and regulatory duties. He said the policy was now “almost complete” and would be formally announced very soon.
