KARACHI: The Engineering Development Board (EDB), a strong arm of the Ministry of Industries and Production (MOIP), has surprised the auto assemblers by revealing that the import tariff on the completely built-up (CBU) vehicles will be reduced to 15 per cent by 2030.

Pakistan Automotive Manufacturers Association (PAMA) Director General Abdul Waheed Khan said the EDB had never disclosed the CBU duty in previous meetings. Currently the import tariff on various CBU vehicles is 100 per cent.

Giving details, he said the EDB held a lengthy meeting with the auto stakeholders on future tariff proposals and directed the auto industry to submit its response by May 13.

PAMA submitted its position by May 14, concluding what assemblers understood as the formal consultation process.

In an unexpected and concerning development, the EDB convened another meeting on May 15, conveying future import tariffs on CBUs at 15pc.-Staff Reporter