Recently, the government launched the country’s first-ever electric vehicle policy which aims to slash the import bill, curb greenhouse gas emissions and convert 30% of all cars to EVs.
The comprehensive policy has multiple incentives to boost the growth of EVs in the country including free registration, tax exemption and others. To acknowledge the services of Pakistanis living overseas, the Ministry of Overseas Pakistanis and Human Resource Development is looking to introduce regulations that will allow one hybrid car (upto 3000CC) to be imported duty-free. Under the proposed policy, Foreign Exchange Remittance Cardholders, who remit $100,000 over a period of two years, will be allowed to import one hybrid car duty-free.
The ministry has been empowered to resolve the issues faced by overseas Pakistanis and to frame policies for their welfare, stated the overseas ministry in a directive issued to concerned stakeholders, which include the Ministry of Industries & Production, and the Engineering Development Board.
“In this context, on the direction of Prime Minister’s Delivery Unit, the Prime Minister’s office, this Ministry is in the process of devising a Manual of Privilege for Overseas Pakistanis-2019,” the notification read.
According to the notification, all relevant parties have been asked to provide the input/proposed privileges to be extended by their organizations and departments.
Allah is Too Great
Its great initiative, but the policy is again for rich well settled people. 100,000$ in two year is too much for a middle class individual. (Even most of them cannot remit this amount in 5 years). Let me give an example an avg Overseas salary here is 10K to 15K. (although software industry can pay from 20 to 45K) but again if you remit 10000AED/m, you still can’t achieve the goal. Here to mention that UAE has best salary range if you compare with Europe/ US (cos of tax).
How about encouraging investors like Elon Musk to establish factories for EVs in Pakistan. It sounds ambitious but it has to be done.
They should tax free as well as free registration
The Vehicle should be registered in their name as well; however, when sold in the market, the benefit of duty free should not be passed on to the other buyer i.e. the same should be recovered at the time of sale.
100,000 dollars in 2 years means 4167 dollars per month… The scheme dosn’t seems to be for much common pakistani people outside Pakistan. The one who can send 4267 dollars per month can afford any 0 meter vehicle in Pakistan even after 8 to 10 months. They should reconsider the conditions.
The policy to give exemption of duty free to oversears should be very careful drawn to come up with zero % chances of trading innopen market,otherwise will turn into business, would suggest that minimum two years the car or any vehicle is non transferable, otherwise it will be good opportunity for doing business. It is always difficult to achieve multiple objectives from one policy until and unless it’s pros and corns are fully evaluated.
This scheme only for rich person