The government is going to allow overseas Pakistanis duty-free import of hybrid cars of up to 3,000cc engine capacity in order to give a boost to the flow of remittances in Pakistan. This is provided that an expatriate remits $100,000 in two years minimum.
This step aims to attract offshore money in Pakistan. A notice has been issued by the Engineering Development Board (EDB) to the stakeholders.
Special Assistant to Prime Minister on Overseas Pakistanis Syed Zulfiqar Abbas Bukhari tweeted, “In recognition of our overseas Pakistanis who utilize banking channels to send money back home, my ministry has proposed to reward them for their contribution to the national exchequer.”
Adding, “I will be backing this initiative with full force; with this, we can deal with the menace of hundi/hawala.”
“Now, the government is trying different and soft tactics to bring the money back into the country. After trying the stick, the PTI government is using the carrot to set the wheels of the economy in motion.”
The hybrid cars of 3,000cc engine capacity will be called high-end vehicles. He said that Toyota Fortuner with 2,755cc engine capacity is the most expensive vehicle in Pakistan.
He said, “The engine capacity of 3,000cc means that the vehicle price will be even higher than that for Toyota Fortuner, therefore, the incentive is only applicable to the elite class.”