Pakistan car prices may drop after major tariff cuts

Islamabad: Car prices in Pakistan may see a significant reduction as the federal government considers major tariff cuts under the National Tariff Policy (NTP). Officials suggest that customs duties on cars, jeeps, and auto parts could be reduced by 25% to 50%, potentially lowering overall vehicle prices in the market. Reports indicate that the maximum tariff rate could drop from 156% to around 74%, making imported vehicles more competitive and increasing market options for consumers. However, the plan is still under review due to revenue concerns and ongoing discussions with the IMF. Experts note that such a move could increase competition among local assemblers, benefit consumers, and potentially stimulate the automotive sector. Will these tariff reforms make cars more affordable for Pakistani buyers?