Meri Gari Scheme Government Initiative for Affordable Vehicles
Meri Gari Scheme Government Initiative for Affordable Vehicles The Pakistani government has launched the “Meri Gari Scheme,” aiming to make vehicle ownership more affordable for citizens. This initiative includes several tax exemptions and reductions for new and locally manufactured vehicles, enhancing the accessibility and affordability of cars in the country. This article provides a detailed overview of the scheme, its benefits, and answers to common questions regarding the initiative. Also Read:Applying for Kisan Card Online in Pakistan
Meri Gari Scheme
The “Meri Gari Scheme” is a new government initiative launched in 2024 aimed at making vehicles more affordable for the average Pakistani citizen. Under this scheme, the government is providing financial assistance, low-interest loans, and subsidies to eligible individuals, facilitating the purchase of new and used vehicles. The initiative targets middle and lower-income families to improve their mobility and economic opportunities. Additionally, the scheme includes special provisions for electric and environmentally friendly vehicles to promote sustainable transportation. Interested applicants can apply through an easy-to-use online portal, ensuring a transparent and efficient process. This scheme reflects the government’s commitment to enhancing transportation accessibility and supporting economic growth.
Key Features of the Meri Gari Scheme
The Meri Gari Scheme includes several significant financial incentives for car buyers. These measures are designed to reduce the overall cost of vehicle ownership and encourage the purchase of environmentally friendly electric cars.
Advance Customs Duty Exemption
One of the primary components of the scheme is the exemption of advance customs duty on brand-new vehicles up to 800cc. This exemption aims to reduce the upfront cost of purchasing a new car, making it more affordable for consumers.
| Feature | Details |
|---|---|
| Advance Customs Duty Exemption | Applies to brand-new vehicles up to 800cc |
Reduction in Sales Tax
The government has also reduced the sales tax on locally manufactured cars from 17% to 12.5%. This reduction directly lowers the purchase price of these vehicles, providing significant savings to buyers.
| Feature | Previous Rate | New Rate |
|---|---|---|
| Sales Tax on Locally Manufactured Cars | 17% | 12.5% |
Federal Excise Duty Exemption
Meri Gari Scheme Government Initiative for Affordable Vehicles To further support affordability, the government has exempted Federal Excise Duty (FED) on 850cc cars. This exemption eliminates an additional cost that buyers previously had to bear, making these cars more economical.
| Feature | Details |
|---|---|
| Federal Excise Duty Exemption | Applies to 850cc cars |
Duty Reduction on Electric Cars
As part of its commitment to promoting environmentally friendly transportation, the government has announced plans to slash duties on electric cars. This initiative aims to encourage the adoption of electric vehicles (EVs), contributing to a reduction in carbon emissions and promoting sustainable transportation.
| Feature | Details |
|---|---|
| Duty Reduction on Electric Cars | Specifics to be announced |
Benefits of the Meri Gari Scheme
The Meri Gari Scheme provides multiple benefits for consumers, including reduced vehicle prices, increased affordability, and support for environmentally friendly transportation options.
- Cost Savings: The exemptions and reductions in taxes and duties significantly lower the overall cost of purchasing a new car.Also Read:Students Can Earn Rs 40k With CDA Paid Internship Program
- Increased Accessibility: By reducing the financial burden, more citizens can afford to buy new and locally manufactured vehicles.
- Environmental Benefits: The focus on electric vehicles promotes greener transportation and reduces the country’s carbon footprint.
FAQs
What is the Meri Gari Scheme?
The Meri Gari Scheme is a government initiative in Pakistan aimed at making vehicle ownership more affordable by providing tax exemptions and reductions for new and locally manufactured cars.
Which vehicles are eligible for the advance customs duty exemption?
Brand-new vehicles up to 800cc are eligible for the advance customs duty exemption under the scheme.
How has the sales tax on locally manufactured cars changed?
The sales tax on locally manufactured cars has been reduced from 17% to 12.5%.
What is the Federal Excise Duty exemption?
The Federal Excise Duty on 850cc cars has been exempted, reducing the cost of these vehicles for consumers.
Will there be any incentives for electric vehicles?
Yes, the government plans to slash duties on electric cars to promote environmentally friendly transportation options.
Final Word
The Meri Gari Scheme is a comprehensive initiative aimed at making vehicle ownership more accessible and affordable for the Pakistani population. By introducing tax exemptions and reductions, the government is providing significant financial relief to car buyers. Additionally, the focus on promoting electric vehicles aligns with global efforts to reduce carbon emissions and encourage sustainable transportation. For the latest updates and more detailed information, consumers are encouraged to stay informed through official government channels.