The government will grant up to 50% tax exemption to four-wheel electric vehicles under the newly proposed electric vehicle policy, said Minister for Industries and Production Hammad Azhar. He added that the enterprises had invested over $470 million in setting up the infrastructure for manufacturing hybrid and electric vehicles. Azhar pointed out that the government had planned to announce a five-year policy for four-wheel electric vehicles within the next two weeks. “The government will also waive 50% duty on the import of four-wheel electric vehicles,” he said. Earlier, an inter-ministerial committee held a meeting and recommended tax incentives for four-wheel electric cars under the newly proposed policy.

Source: The Express Tribune November 18, 2020 02:48 UTC