Shell Pakistan is coming all across with the plan to add on the investment over millions to meet up with the local demand. They have just recently planned to invest $15 to $16 million in its retail stations in terms to add on with the expectations of an increase in vehicle sales as more automakers enter Pakistan. They are planning to come ahead with the activities under the China-Pakistan Economic Corridor (CPEC) gain momentum. The company has been all pouring on with the fresh capital to strengthen its presence in existing areas of operation as well as along CPEC route.
Just as owing to the new Automotive Development Policy (ADP 2016-21), it has been nearly a dozen automakers that are stepping into Pakistan’s industry and much encouraged by the incentives offered in the policy. They are becoming the image in showing out to be the positive outlook on the country’s economy.
Shell Pakistan To Invest Millions To Meet The Local Demand
According to JS Research, the new entrants will be adding on with the timeline of 60% of the industry’s production capacity as in the duration of next few years. In this view, the law and order condition has been adding much improvement over the last four or five years that has also helped expand the economy. Cars and so as the motorcycles are increasing. So in this regard, we can say that it has been moving into the response to the demand pull as well as forecast increase in demand investment.
The company had pointed out that they had not yet devised any plan for setting up charging points for electric cars. But this demand would rise, and hence it will establish charging units at its existing category of the filling stations. Straight away into the budget for the fiscal year 2018-19, the government had made with so much of the efforts in terms to promote electric cars to pave the way for the sake of the increase in the use of environment-friendly vehicles. Electric vehicles will not be running on the petrol, and hence they would not be adding to the global warming. This is the primary concern in view for the world leaders who are struggling to restrict a rapid rise in global temperatures.
In the budget, there is the implementation of the 16% customs duty on charging stations for electric vehicles that have been withdrawn. Customs duty over the category to the import of electric cars has also been reduced from the view of 50% to 25%. This also adds on with the exemption from 15% regulatory duty. Plus, the import duty as on entirely knocked down (CKD) kits for the assembly of electric cars in the country stands at the range of 10%. According to the reports of International Energy Agency, sales of electric vehicles will rise at the limit of 54% in the year 2017.
