The federal government on Saturday introduced the new auto policy, with a special focus on cheaper vehicles and electric vehicles (EVs).

Information Minister Attaullah Tarrar and Adviser to the Prime Minister for Industries and Production Haroon Akhtar Khan announced the policy while addressing a press conference in Islamabad.

Speaking to the media, Akhtar said that a lot of work was done in drafting the policy, adding that Prime Minister Shehbaz Sharif had invested a lot of time in this regard.

He said that the policy rested on six basic pillars: cheaper vehicles, especially for the middle class and lower middle class; exports; localisation; vehicle safety; promotion of EVs; and transparency.

He said that the premier had introduced a tariff policy, the purpose of which was to lower the cost of production and the import bill of raw materials.

“So we have applied this policy in the auto policy and you will see that prices of cars will come down,” he said.

More to follow