Noor Fatima Afzal Daily Dawn + Dawn TV Report
Islamabad: The IMF has allowed the Ministry of Commerce to import 5-year-old vehicles.
Briefing the Senate Standing Committee on Finance on the import policy, Ministry of Commerce officials said that from September 2025, import of 5-year-old vehicles will be allowed, and an additional duty of 40 percent will be imposed on five-year-old vehicles.
According to officials, the ban on importing 3-year-old vehicles for individual or commercial use has been lifted, and after fiscal year 2027, import of vehicles up to 7 years old will be allowed, and the additional duty will be gradually reduced by 10 percent every year from fiscal year 2027.
The officials also said that after the fiscal year 2027, additional duty on imported vehicles will be abolished and normal duty will remain. An additional 40 percent duty will not be imposed on vehicles brought in baggage. There will be a 700-day overseas limit to avail the facility of vehicles brought in baggage.
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