Expats will soon be allowed to import hybrid cars duty free
THOSE WHO REMIT $100,000 IN TWO YEARS USING LEGAL CHANNELS QUALIFY FOR THE SCHEME
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Associate Editor — Online
There is good news for Pakistani expatriates in the UAE and elsewhere in the world as they may soon be allowed to import one hybrid car to their country on remitting $100,000 (Dh367,000) using legal banking channels in two years.
The move will not only benefit the overseas Pakistanis but also help improve foreign exchange reserves in the country facing acute financial crisis.
However, the initiative is still a proposal, which was prepared by the Ministry of Overseas Pakistanis and Human Resources Development (MOPHRD). The ministry has forwarded the proposal to ministry of industries & production and engineering development board (EDB) for their opinion to grant Foreign Exchange Remittance Card (FERC) holders to avail the duty-free import.
The proposal letter reads: “Duty free import of one hybrid car up to 3000cc to foreign exchange remittance card (FERC) holders, who remit $100,000 over a period of two years.” Gulf
News has a copy of the letter.
It is not clear how long it would take to finalise, but the ministry is keen to introduce the scheme as soon as possible.
Following instructions from the Prime Minister Imran Khan’s delivery unit, various departments have been requested to put up their concessional proposals, which they could offer to Pakistani expatriates. The overseas ministry is currently in the process of preparing a list of major concessions and incentives for them.
The departments, he said, had been requested to submit their comments on the proposal at the earliest.
Syed Zulfiqar Bukhari, special assistant to the prime minister for overseas Pakistanis and HRD yesterday tweeted in support the proposal.
“In recognition of our Overseas Pakistanis who use banking channels to send money back home, my ministry has proposed to reward them for their contribution to the national exchequer. I will be backing this initiative with full force so in time we can kill the menace of hundi/havala [illegal banking channels],” tweeted Bukhari.
Currently,
Pakistan expatriates in the UAE are allowed to import a saloon car of up to three years old and an SUV (up to five years old). However, they have to pay hefty customs duties from 60 to more than 100 per cent of the value of the vehicle they import.
A Pakistani expatriate can send a vehicle to Pakistan to his blood relatives including father, mother, sister, brother or children under ‘gift scheme’ if he is resident of the UAE for at least two years.
He is also allowed to take a car under ‘baggage allowance’ if he is resident of the UAE for at least six months.