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In 2017, 52,874 models were made. The automotive industry in Pakistan is one of fastest-growing industries in the country, growing by 200% between 2020 and 2024. It accounts for 16% of Pakistan's GDP and employed a workforce of over 10 million people as of 2024. Pakistan is the 12th largest producer of automobiles.
In line with its status as a major port and the country's largest metropolis, it accounts for most of Pakistan's revenue generation. According to the Pakistan Federal Board of Revenue's 2006-2007 year-book, tax and customs units in Karachi were responsible for 70.75% of direct taxes, 33.65% of federal excise tax, and 23.38% of domestic sales tax. [3]
The key points of the Electric Vehicles Policy 2020–2025 are the following: [31] Exemption of customs duty and additional sales tax on the import of four-wheel electric vehicles. Only 1% sales tax on locally manufactured electric vehicles (power up to 50 kwh). Also 1% sales tax on light vehicles (power up to 150 kwh).
The period from July 1 to June 30 is considered as a normal tax year for Pakistan tax law purposes. Corporate Income tax rates Currently, the Corporate Income tax rate is 29% for tax year 2019 and onwards whereas the corporate tax rate is 35% for Banking Industry for TY 2019. Income Tax on Export of Services, in Pakistan is 1%.
All states and territories require an annual vehicle registration fee to be paid in order to use a vehicle on public roads; the cost of which varies from state to state and is dependent on the type of vehicle. The fee is known colloquially as 'rego' (pronounced with a soft g, short for registration). [1] Queensland road tax is based on the ...
In 1988, it was listed on the Karachi Stock Exchange. [5] In 1998, Hino Motors, and Toyota Tsusho Corporation obtained majority shareholding in the company after disinvestments by the other two founding investors. [6] Hinopak Motors has a 70% market share in Pakistan, and gained its highest-ever after-tax profit in FY~2018-19. [7] [8] [9]
Pak Suzuki Motor Company Limited (PSMCL) is a Pakistani automobile company which is a subsidiary of Japanese automaker Suzuki. [2][3] It is the Pakistani assembler and distributor of cars manufactured by Suzuki and its subsidiaries and foreign divisions. [4] Currently Pak Suzuki is the largest car assembler in Pakistan.
M-2 motorway in the Salt Range M-2 motorway exit to Sargodha. Pakistan's motorways are an important part of Pakistan's "National Trade Corridor Project", which aims to link Pakistan's three Arabian Sea ports (Karachi Port, Port Bin Qasim and Gwadar Port) to the rest of the country through its national highways and motorways network and further north with Afghanistan, Central Asia and China. [2]
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