ISLAMABAD – The federal government has proposed withdrawal of 16 percentCustoms duty on electric vehicles in the federal budget for fiscal year2018-19.

During his budget speech on Friday, Finance Minister Miftah Ismail saidthat the government was trying to introduce alternative sources of energyin all spheres of life in a bid to lower the dependency on usage of fossilfuel.

Miftah said that the government had proposed a reduction in Customs duty onimport of electric vehicles from 50 percent to 25 percent, and 15 percentregulatory duty exemption.

He said that the government had proposed the import of CKD kits for locallyassembled electric vehicles on 10 percent.