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Pakistan

FPCCI demands rollback of high taxes on hybrid cars

Source: Dawn
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FPCCI demands rollback of high taxes on hybrid cars
Image: Dawn

HYDERABAD: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed concern over the sales tax hike on hybrid vehicles, from 8.5 per cent to 25pc, and warned that this short-sighted policy would hurt consumers and cripple the auto industry. In a statement issued on Saturday, Adeel Siddiqui, a member of the FPCCI Executive Committee, noted that tax concessions on hybrid vehicles expired on June 30 and with no new auto policy notified in time, the Federal Board of Revenue restored the general sales tax rate of 25pc on hybrid electric vehicles and plug-in hybrid vehicles. He said that this represented a massive increase from earlier preferential rates of 8.5pc for…

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