It is being said that there are chances of small cars and motorcycles becoming cheaper in the federal budget 2021-22 being presented today (Friday) in the National Assembly.
It will be presented by Finance Minister Shaukat Tarin.
According to sources, the budget will propose to reduce taxes on vehicles smaller than 850 cc.
A proposal to reduce sales tax, excise duty and additional customs duty on small vehicles is also under consideration, sources said.
In addition, a proposal may be given to reduce the tax on various brands of new motorcycles and on new models of tractors.
Automobile manufacturing companies in Pakistan have failed to decrease the prices of cars despite a visible decrease in the dollar rate in the last few months.