New cars set to enter auto sector of Pakistan
Lucky Motors plans to launch Kia Sorento model
The Sorento model by KIA is a seven-seater SUV that will be available in three variants and seven colours. PHOTO: EXPRESS
KARACHI:
Lucky Motors is planning to launch Kia Sorento model to give competition to Toyota’s Fortuner variant.
According to a report released by Arif Habib Limited (AHL) on Monday, the company will launch the variant on February 19, 2021. The market also expects the car company to introduce another model called Cerato by June 2021.
Pakistan introduced an automobile policy in 2016 to attract new players to the country in a bid to deepen competition among automobile firms and to offer latest technology to customers.
Auto sector seeks scrappage policy
Industry players label policy imperative for growth of sector
KARACHI:
Following an official announcement in India about the new vehicle scrappage policy to tackle the issue of air pollution, Pakistan’s auto sector has also demanded an auto scrap policy.
Countries introduce the scrapping policy to decide the life of vehicles; how old vehicles should be to protect the environment and accelerate the auto market, said Pakistan Electric Vehicles Manufacturers Association (PEVMA) Chairman Sabir Shaikh while talking to
The Express Tribune.
The Indian automobile industry has been struggling with a severe sales slowdown since 2019 - and the pandemic brought it to a screeching halt, said The Pioneer (Lucknow, India) Executive Director News Biswajeet Banerjee in comments given to The Express Tribune.
Uncertainty irks EV investors
Despite issuance of electrical vehicle (EV) policy for two and three-wheelers, non-issuance of Statutory Regulatory Orders (SROs) for customs duty and sales tax has put potential investors in a dilemma.
According to a notification issued by the Federal Board of Revenue (FBR) on February 3, 2021, to amend SRO 572(I)2020, there will be no more additional customs duty on the import of electric vehicles falling under Pakistan Customs Tariff (PCT) codes 8703.8030 (electric auto rickshaw), 8711.6040 (electric motorcycle), and 8711.6060 (three-wheeler electric-loader).
Even though the government of Pakistan has taken steps to promote electric vehicle technology in the country, the revenue board has exempted additional customs duty on the import of electric two and three-wheelers up to June 30, 2025.
Automobile stakeholders demand EV board
Officials say Engineering Development Board lacks expertise to manage EVs
First electric vehicle station. PHOTO: TWIITER/@MinistryofST
KARACHI:
The producers and traders of electrical vehicles have demanded establishment of a separate electric vehicle board under the Electric Vehicle Policy.
The Engineering Development Board (EDB) was designed to regulate fuel-based automobiles and it does not have any expertise to manage electric vehicles, said Pakistan Electric Vehicles and Spare Parts Manufacturers and Traders Association General Secretary Shaukat Qureshi He added that EDB was formed more than two decades ago when electric vehicle technology was not present therefore a separate electric vehicle development board was the need of the hour to regulate and supervise the electric vehicle business and industry of Pakistan. In a letter written to the Ministry of Industries and Production, Ministry of Science and Technology and Ministry of Cli