Pakistan Okays Used Car Imports
Govt Allows Import of Used Cars with New Policy, ECC Approves Duties and Grant
ISLAMABAD – The Economic Coordination Committee (ECC), chaired virtually by Finance Minister Muhammad Aurangzeb, has approved major changes to the import policy, paving the way for the commercial import of used vehicles.
According to the Ministry of Finance, the Import Policy Order 2022 will be amended to allow such imports. Initially, only cars up to five years old will be permitted until June 30, 2026. After that, the age limit will be removed altogether.
The ECC stressed that all imported vehicles must strictly meet environmental and safety standards.
To regulate the inflow, the Committee approved a 40% Regulatory Duty (RD) on these imports, in addition to existing customs duties. However, this duty will gradually be reduced by 10% each year and fully phased out by the fiscal year 2029–30, based on the Tariff Policy Board’s recommendations.
In a separate move, the ECC also cleared a Technical Supplementary Grant of Rs800 million for the Pakistan Virtual Asset Regulatory Authority (PVARA).
The meeting was attended by key ministers, including Petroleum Minister Ali Pervaiz Malik, Food Security Minister Rana Tanveer Hussain, and Power Minister Sardar Awais Ahmad Khan Leghari, along with federal secretaries and senior officials from relevant ministries and regulatory bodies.
Mutib Khalid is a skilled content writer and digital marketer with a knack for crafting compelling narratives and optimizing digital strategies. Excel in creating engaging content that drives results and enhances online presence. Passionate about blending creativity with data-driven approaches, Mutib Khalid helps brands connect with their audience and achieve their goals.
