After mini budget is approved, THESE will be the new prices of cars in Pakistan
The government maintained GST at 12.5 percent for cars up to 850cc while increasing the GST from 12.5 percent to 17 percent for cars between 850-1000cc.
The mini-budget tabled before the National Assembly has proposed several taxation measures on the automobile sector, which would increase car prices both imported and locally assembled. The new prices of cars in Pakistan are likely to surge in the range of PKR 65,000 to PKR 500,000, depending on the variant.
Earlier, it was believed that Sales Tax on cars below 1000cc would be increased to a standard 17 percent from 12.5 percent. However, the government maintained GST at 12.5 percent for cars up to 850cc while increasing the GST from 12.5 percent to 17 percent for cars between 850-1000cc.
Moreover, the government raised advance tax by 50,000 for cars up to 1000cc, 100,000 for 1000-2000cc, and 200,000 on 2000cc and above categories.
FED on 1000-2000cc and 2000cc above cars has been increased by 2.5 percent and 5 percent respectively.
Similarly, car prices are expected to increase by 50-100 thousand rupees (up 2.4 percent) in the 1000-2000cc category (base case variants) and 180-400 thousand (up 4.8 percent) for those above 2000cc.
Besides, the government also increased FED on imported Completely Built-up Units (CBUs) by 5 percent on all categories below 3000cc.
Here is a list of new prices of cars in Pakistan:
Pak Suzuki Motor Company (PSMC)
Toyota Indus Motor Company (IMC)
Honda Atlas Cars Limited (HACL)
Kia Luck Motor Corporation Limited (LMCL)
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