Minister of Commerce Jam Kamal Khan announced on Wednesday that a high-level committee has been formed to address challenges in Pakistan’s auto industry, following the recent reduction in US tariffs on Pakistani exports. The committee, which includes representatives from the Ministry of Commerce, Federal Board of Revenue (FBR), and the Ministry of Industries and Production, will work on a strategy to develop the sector and enhance exports.
Kamal emphasized that the recent tariff reduction agreement with the US, which lowered reciprocal tariffs from 29% to 19%, provides significant opportunities for Pakistani auto exports. He further highlighted that, following successful exports of tractors and motorcycles, cars will now be added to the list of exportable products.
The minister also addressed concerns raised by industrialists regarding the impact of old vehicle imports and increased production costs due to new technology. Kamal assured that the government would reduce tariffs on the auto sector gradually over the next five years to foster growth and competitiveness.
