New Auto Policy Expected to Reduce Vehicle Prices, Says Haroon Akhtar

ISLAMABAD: The government has announced a new auto policy aimed at reducing vehicle prices across the country, according to Haroon Akhtar, a key official involved in the policy’s formulation. This initiative is expected to make vehicles more affordable for the average consumer.

During a press briefing, Akhtar emphasized that the new policy will specifically target the pricing of vehicles with engines up to 1,000 cc, which are popular among Pakistani consumers. He stated, “This policy is designed to enhance competition in the auto sector and ultimately benefit the consumer by lowering prices.” The government aims to implement these changes swiftly to address the rising costs of vehicles.

The implications of this policy are significant for the Pakistani economy, particularly as inflation continues to affect purchasing power. By making vehicles more affordable, the government hopes to stimulate demand in the auto sector, which could lead to increased production and job creation. This move is seen as a response to public outcry over the high costs of vehicles, which have become a barrier for many potential buyers.

Looking ahead, the government plans to hold consultations with industry stakeholders to finalize the details of the policy. Further announcements are expected in the coming weeks, as officials work to ensure that the new regulations are effectively implemented and monitored.