The federal government of Pakistan is studying adjusting its automobile import policy. One of the items that has attracted the most market attention is the lifting of import restrictions on "used cars no more than 5 years old."

According to Pakistan's "The News" report, the federal government of Pakistan is studying adjusting its automobile import policy. One of the items that has attracted the most market attention is the lifting of import restrictions on "used cars no more than 5 years old."

If the relevant reforms are finally implemented, it will become one of the most important policy changes in the Pakistan automobile market in recent years, and may also have a significant impact on the long-protected local automobile industry.

Specifically, these include: gradually eliminating Additional Customs Duty (ACD) in the next five years; gradually reducing Regulatory Duty and eventually reducing it to zero; controlling the maximum rate of ordinary tariffs within 15%; controlling the maximum rate of regulatory taxes within 20%; abolishing low-end regulatory tax rates such as 1%, 2%, and 2.5%.

In the automotive sector, the regulatory tax on imported used cars is expected to be lowered from the current 40% to 30%.

Pakistan's Ministry of Commerce stated that the goals of these reforms are to enhance market competition, improve consumer welfare, and promote the development of Pakistan's tariff system in a digital and international direction.

Source: Leading the way to the sea by Gaoshen's car

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