Shehbaz Approves Five-Year Auto Policy, Rejects IMF Plan for 18% EV Sales Tax

Shehbaz Approves Five-Year Auto Policy, Rejects IMF Plan for 18% EV Sales Tax

Prime Minister Shehbaz Sharif has approved the draft of Pakistan's new five-year Auto Policy (2026-31), setting a $6 billion vehicle export target — while firmly rejecting an IMF proposal to slap an 18% sales tax on electric vehicles.

The draft, now headed to the federal cabinet for final approval, keeps sales tax on battery electric vehicles at just 1% through 2031, with range-extended EVs at 6% and plug-in hybrids at 9%. Imported vehicles will need a certificate of compliance with standards, and auto import tariffs will gradually come down to boost competition.

To make EVs affordable, the financing limit jumps from Rs3 million to Rs10 million, with the repayment period extended from three to five years. A 10% federal excise duty will apply only to EVs priced above $75,000, while lower tariffs are proposed for small EVs under $15,000. Officials say the policy aims to grow local manufacturing, integrate Pakistani auto parts into global supply chains, and cut reliance on imported fuel.

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