Federal government plans to introduce new policy on imported cars

Federal government plans to introduce new policy on imported cars
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ISLAMABAD - The government is planning to introduce a new scheme or regulatory framework to allow the import of used vehicles. Only commercial importers will be allowed to do so with certain Quantitative Restrictions (QRs).

Sources revealed that Dr. Abdul Hafeez Shaikh, Adviser to PM on Finance and Revenue, will chair a meeting on Monday to discuss the import of vehicles under personal baggage, transfer of residence and gift schemes for overseas Pakistanis.

The meeting would discuss the possibility of introducing a scheme for commercial importers, taking into account the views of the Finance Division, Commerce Ministry and the Federal Board of Revenue (FBR). Import Policy Order, 2016

According to the Finance Division, the Import Policy Order 2016 of the Commerce Division includes various vehicles import schemes e.g. personal baggage, transfer of residence and gift schemes for overseas Pakistanis. This regulatory instrument allows the import of new or used vehicles and is aimed to facilitate bona fide overseas Pakistanis.

Economy