ISLAMABAD: The government is going to introduce a new car financing scheme with a lower interest rate of 5 to 6 per cent to facilitate customers who are unable to buy a car after major price hikes during the past few years.
According to an official at the ministry of Industries and Production, the government is interested in facilitating the customers of small cars of 850 cc to 1000 cc with reduced interest rate to facilitate maximum buyers. However, the financing facility would also be extended to cars of above 1000 cc. “The rate being proposed for small cars would be around 5 per cent while 6 per cent is being suggested for cars of more than 1000 cc,” the official said.
“The facility could boost sales in the auto industry which ultimately create business and employment opportunities,” he said, adding that the facility was currently being discussed with stakeholders.
During a recently held meeting on proposed new auto policy, it was informed by Federal Minister for Industries and Production, Makhdum Khusro Bakhtyar, that the aim to introduce a new policy is to provide affordable small cars i.e. 850 cc-1000 cc, promote localisation in domestically assembled cars, produce exportable surplus of auto-parts of 2-3 wheelers and increase the competition in the local market so that people in Pakistan could enjoy better technology at affordable prices.
Apart from the financing facility, the government has also announced reduction in general sales tax (GST) on locally assembled cars up to 850cc to 12.5 per cent from 17pc in the budget 2021-22 followed by exemption of federal excise duty (FED) and value-added tax to give relief to small car buyers. The small car producing local companies especially the Pak Suzuki Motor Company Ltd (PSMCL) will enjoy the concession.
New policy for hybrid cars
According to sources, stakeholders in the auto sector have also agreed to give incentives to hybrid cars in the next policy (2021-26), similar to what has been given to electric cars. Electric vehicles (EV) parts in hybrids are likely to get similar incentives as stipulated in the EV policy.
“The duty relaxation offered for parts of the EVs is being proposed to CKD of hybrid cars too under the new auto policy,” an official at Engineering Development Board (EDB) said.
Earlier through the EV Policy 1 per cent sales tax for locally made EVs up to 50 kwh and light commercial vehicles up to 150 kwh were introduced. Besides, duty on the import of charging equipment was capped at 1 per cent.
Talking to this scribe, Additional Secretary Ministry of Industries and Production Hamid Atique said that the ministry was trying to cover the tax part of the upcoming auto policy which is to be included in the FY22 budget. “The remaining part of the policy would be finalised during next month,” he said.
Salam alikm sir .sir I am very poor man I need the help .sir please help me .my WhatsApp nomber +923130816871 my name. Sajjad abbas akhtar
Allah se madad mangi hoti or mehnat ki hoti to yahan pe logon se mangne ki zaroorat na parti
Ho sakta hy Allah se maanga bhe hou
Khuda ki musjid tameer karnaa ka leyaa chandaa kue mangtaa ho. Kabi tu deyaa ho ga. Sharam karni chahiyaa tumharaa soch ka mutabiq khuda ka ghar mang mang ka banana sawab ha arr kisi sa madad mangnaa jayiz nahi. Khuda musabab asbab ha
good
Govt is moving in right direction with economy as well as tax culture. Treens r
friends of pakistan under pM
its a good aprtunity for poor peopls
Allah ka ghr akaily insan bnane ka hak ni rakhta. Ye ijtamai ghar hai. Iss main her koi jb contrikarta hai to aik ijtamaiyat paida hoti hai. Her kisi ko phr Allah ghr main apny jany ka hak nazar ata hai. Jb aik insan bnaye to yun ehsas hita hai jaisy ap kisi bndy k ehsan say Allah k ghr main namaz parh rahy hain.
Well said
Well said..🖒
Bht he ghatia khyalat ha apk… Gurbat aur tangi kisi pe bhi askti ha… Allah se madad mangi ya nhi aur mhenat k ya nhi yeh apko yaha bht kese pta.. aur kisi bechary ko aese khena ka apko haq bhi nhi ha agar janty nhi hu. Madad nhi krskty to tanz mat kro.. bhek nhi deni to usko nokri dy do..
Well said
Allah sa mango wo he data ha.koe na koe wsela bna data ha.
Syed insan sy sawal nhi marty 🙂
Ri8t
Beshak. Allah bohat barah hai. Uska koi shareek nhi
y bands mar jayga nukri nagy karay ga es ko behk. kee addat hogay hay agar khuddar hota tu mar jata behk j ly hat nahy phlata aur tum jaysay log jo isko support kar rahy ho y aur beghairty say mangay ga
Well said.
100 % correct.
Allah se madad mangen us k samne girgiraen logon k samne ny.
Kya pata Allah se madad mangi ho to he yahan aya ho. Aur Allah khud to ata nahi, zariya paida karta hai hum logon me se he.
Shame on you…. If someone is asking help in his time of need and giving his whatsapp number. If you cannot help him then please don’t give such insulting comments for him. Allah se maango ,ya mehnet kero…how brutal you are…. Allah bless his people with eight wealth so that these wealthy people may help and support their poor brothers in time of help. You don’t have wisdom, you only believe on this material world, while if you will help and support your poor fellows you will be bless with heavens afyer this temporary material world.
Jazak Allah
Wah online bikari bhi aagaye ab social media market Mai wah
Kisi ke agey hath phelana gunah e kabira he.
Bahi kisi ki help ni ker sakty tu hosla afzai he ker dia kero.
Allah ny dunia main insan ko usky hal py chor ra hai tabhi itni na insafi karky bhi log iszat kamaty hain tu kon hota hai batany wala Allah de ga ya nahi? Tu hisaab karta hai kia bhosadi ky usko zarurat hai pasy ki tere is comment ki nahi jab tujpy guzary gi toh tujjy bhi andaza ho ga
Lota Jo hai
Where do you live?
What kind of help you want?
🤣🤣🤣🤣🤣🤣
Which work you can do
good
Logo ko b Allah nay madad ka hukam dia,,, agr wakai wo haqq rakhta ha to
Masha Allah. Good job for peoples of pakistani.
Muslim country with 5-6 % interest (SooD)
La Hool wala kwat……. Allah ke Lanat.
I need it for work
03143571798 here is my number you can call me
Interset nhi hna chaheay. We are Muslims. Quran khta he k interset haram he.
Jhoot Dhooka, faraib, gheebaat, naap toul ma kami, haram khoree, ghasaab ya sab halal ha arr haram ha tu wo car interest pa lanaa. Wazeefaa pa palnaa walay molviyoo saa sunoo ga tu yahi anjam ho ga jo aj pakistaniyoo ka ha. Bank agar jins means commodity daa tu wo rent latee ha jiss ko jahil sood samajtay hn. 30 lak ki cheez ap ko 4 lak ma dati ha wo khuch nahi
How to apply and when we can apply for it
Soad khatm karo
Please with out interest (SOOD) atu policy schemes introduce.
Ghar to mil gay low interest pa ab car mily gi.awam ko zalil kro bss loly pop da k.
Konse ghr mile bank wale form nhe de the k jb tk apki pay bank me na aye as apko form nhe mil skta sb chor bazari hai
How we can apply for a car 100cc
Good opportunity for Government of Pakistan
How to apply and when we can apply for it.
Hahahahahahahaha
When is it going to implement this new policy of 5 percent???
Still benigits of housing loans are on their way
Who r u
Car financing booming. Attention must be diverted towards housing finance. How make housing finance attractive for bankers and public.
Sir, a good scheme,affordable with minimum interest rate for middle category person, please launch immediately under intmation to us
I am interested
Shame bohat duk hote he Agar madat nai Karsuck te hu kise ku tane nai du Kia pate kise Kia mazbore ha
I am interested
Very good initiative highly applaude, or ye jo attention diverter comment section me agaye hen believe ye haasideen or mufsideen hen. Imran khan zindabad pakistan zindabad
Wouldn’t it make more sense for government to strictly ask car manufacturers to reduce the cost of cars so people don’t have to pay 5 to 6 percent extra
I need it for work nd interested
Allah sa mango wo koe na koe wsela bna data ha
AoA
What is price of new car850 or 1000cc plz mentioned
It would disturb the balance of payment.It would hike the petrol export leads further economic debt. Secondly, there is also traffic obstacles due to use of private transport consequently leads economic sink considerably. Furthermore, environmental pollution due to transport can’t be ignored. The policy could discourage environmental cleanliness and traffic hurdles can be resulted by hiking private transport.
Khud tu 3 rakhi hon gi…..
Kisi dosry ka bhala hota dhek kar environmental pollution yad agai apko……
Kitny he easy log hain jo gari mehngi hony ki waja sy nai ly sakty…..
Lakin onhy zarorat boht hoti ha kam k silsaly mai…..
Absolutely Right
I M interested
Hahahahaha Humarey mahsrey la yahi tu kasoor ha hum har bat pe ak Dosrey see larthy jagrty hain .nakamun ki tara
Any way I am interesting in car
It should be interest free.
Majority of people won’t buy this policy because it comes with interest & mark up if government is really sincere to facilitate people then they they should come up with plan without interest & mark up policy but it’s not gonna happen as always in this country policies are made for elites not for the sake of common man .
Nothing to worry
Nice step of govt……
How can apply for this
Bhot log Jo achay bhaly hain APNI mjbori btaty hain kam nhi ha Ghar khany k liay Kuch nhi ha madad Karin main ny usi time job karny Ka kha bhag jaty hain kam nhi karty managny Ka kam psand ha ap bhoky ko Khana khala dain kis Ka kam nhi ha us ki kam dila dain ap k janny walon main ager koi muskil main ha ap kud us k managny sy phly us ki koi madad karain
Dear Ghulam Abbas sb,
As per your article policy is useful from 850 CC to 1000 CC.
What about the every 660 CC or other family cars below 850 CC ?
Can these car buyers are also eligible or not ?
For the financing facility with concessional markup rates ?
Its good step taken by present govt. good opportunities for unemployment .
i am very excited to join this scheme, i have a very good planing to start new business with help of this scheme ,
i did MBA (Finance ) i have complete ability to mange the things .
i am very grateful to present Govt.
I had this article bookmarked a while ago but my PC crashed. I have since gotten a new one and it took me a while to locate this! I also in fact like the design though.
Wagnor