✅Car financing in Pakistan is going to be accelerated in Pakistan by government by giving subsidy on #markup rates on #autoloan. Government is considering 5% #autoloan markup for cars with engine capacity upto 1000CC whereas above 1000CC markup rate of 6% is under cosideration. But it will be implemented after implementation of #autopolicy of #Pakistan for 2021-22. Government has already abolished FED @2.5% on cars having engine capacity of 1000CC and on such cars, #GST (General Sales Tax) rate has also been reduced from 17% to 12.5%. After abolishment of FED and reduction in GST, prices of cars with #enginecapacity of 1000CC have already gone down from Rs. 60,000 to Rs.150,000. After implementation of subsidized mark up rates on #bankfinancing for cars, a person will get around Rs.440,658/=cheaper car financed for #5years from any bank of Pakistan.
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