The Federal government has somehow announced the amendments in the current budget 2018-19 just as during the session at the National Assembly on Tuesday, 18th September 2018. It decided in the meeting where there was PM Imran Khan along with other ministers and lawmakers were present. As in the middle of so many of the amendments presented in the budget, the Federal Excise duty on 1800cc cars and above that has increased to 20% from 10%.
Moreover, from the view of the Completely Built Units (CBU) to imported and locally manufactured as this increased percentage will be applied to every car. According to one of the analysts, this somehow increased FED will profoundly impact the cars by making away with them even pricier. Hence all the FED for all commercial vehicles and vans, on the whole, remains unchanged; which is zero.
Well, moreover the ban on non-filers to purchase the cars has been uplifted, and now hence regardless of the engine capacity of the vehicle. In this way, all the categories of the non-filers can easily buy them. This amendment will also bring about with the positive impact on the car sales.
Furthermore, the government has also brought about the announcement as to withdraw the decision of increasing Petroleum Development Levy on top of the petroleum products as which was imposed by the previous government. But, in the case of an increase in the exchange rate hence the petrol prices will go up by 20 rupees.
