LAHORE: Pakistan’s draft auto policy for 2026-31 would lock car prices at the time of booking and make manufacturers pay compensation if they fail to deliver within 30 days, in a bid to end the on-money premiums that have long frustrated buyers, according to the draft as reported.
Late delivery would attract compensation at the Karachi Interbank Offered Rate plus 3 percentage points, and the booking price could change only for statutory tax revisions, PakWheels reported from the draft. Imported used cars would face mandatory pre- and post-shipment inspection.
The latest version also proposes capping the advance taken at booking at 20 percent and tightening monitoring of dealers who charge premiums, according to industry circulation of the draft. The Lahore Times could not independently confirm the 20 percent cap.
On-money, the premium buyers pay to dealers or investors for early delivery of popular models, became entrenched during years of long waiting lists and has added hundreds of thousands of rupees to some cars.
The policy has already removed additional customs and regulatory duties under the wider tariff plan. The International Monetary Fund has sought more data on the draft, and it is due to go to the Economic Coordination Committee for approval.
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