Pakistan, Oct. 2 -- The federal government has imposed an additional 40 percent regulatory duty on the commercial import of used vehicles, following cabinet approval. The Federal Board of Revenue issued a notification confirming the decision, clarifying that this duty will apply in addition to all existing import duties already being charged on imported cars.

According to the official notification, the extra duty will remain in place until June 30, 2026. Starting from the following fiscal year, the duty will be reduced gradually by ten percent each year, ultimately reaching zero by June 30, 2029. This phased reduction plan aims to provide relief to the automobile market over time while ensuring stable revenue collection in the short term...