By Ajmal Khan Yousafzai
ISLAMABAD: Car assemblers have said that electric vehicles will remain out of the reach of people as these are 140% more expensive than conventional cars despite a recent reduction in taxes, urging the government to instead promote hybrid cars.
In a briefing to the National Assembly Standing Committee on Finance on Monday, two big players also blamed the government’s taxation and exchange rate policies for an unprecedented price hike in Pakistan. They said that nearly two-thirds of the price of a car was influenced by high taxes and exchange rate value.
Headed by Pakistan Tehreek-e-Insaf (PTI) MNA Faizullah Kamoka, the standing committee took notice of the surge in prices of vehicles more than the currency devaluation. But the facts produced by Indus Motor Company (IMC), the makers of Toyota brand, and Honda Atlas Cars suggested that it was the government that should be blamed more for the 50-70% increase in prices in the past two years than the big three industry players. The government should review its tax structure and also promote hybrid vehicles as electric vehicles did not make any sense for Pakistan, said Baber Khan, IMC Head of Corporate Affairs. “Hybrid car is 15% expensive than the conventional car and the fuel cell (electric) vehicle is 140% more expensive than the conventional car,†said Khan.
