Presenting Federal Budget 2018-19 in the National Assembly, he said the government was committed to introducing alternative energy in all walks of life with a view to reduce dependence on consumption of fossil fuel.
In line with the strategy, the minister said, the government had also proposed to reduce custom duty on import of electric cars from 50pc to 25pc in addition to exemption from regulatory duty of 15pc.
While, the minister said 10pc duty had been proposed on import of ’CKD kits’ for assembly of domestically produced electric cars.
He said light-emitting diode (LED) was an efficient alternative to save energy. It has been proposed to withdraw 5pc customs duty on specified LED parts and components to further incentivize domestic manufacturing in Pakistan, he added.