The federal cabinet has endorsed the Economic Coordination Committee’s (ECC) decision to allow overseas Pakistanis to import up to three-year-old used vehicles under two existing schemes.
According to an official statement issued after the ECC meeting, the Finance Division said the cabinet approved a summary submitted by the Ministry of Commerce, endorsing amendments to the vehicle import policy.
Under the revised framework, commercial import safety and environmental standards will apply to imported vehicles. In addition, the permissible import age has been extended from two years to three years, while imported vehicles will remain non-transferable for one year.
The Ministry of Commerce will forward the case to the Ministry of Law and Justice for vetting of the relevant Statutory Regulatory Order (SRO) prior to its issuance.
Once the Law Ministry vets the SRO in line with the cabinet’s decision, it will be uploaded on the Ministry of Commerce’s website.
Earlier last month, Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial said the government is considering reducing taxes on used mobile phones brought into Pakistan by overseas Pakistanis.
