Import of Electric Vehicles Surges in Jestha, Government Revenue Affected

In the month of Jestha, 3,800 electric vehicles were imported, and Rs. 11.23 Arba was exported.

In the previous month, there has been an increase in the import of electric vehicles. According to the statistics from the customs department, only 3,870 electric cars, vans, and jeeps were imported in the month of Jestha. Due to the difficulties in importing petroleum vehicles, businessmen are being attracted to electric vehicles.

The department reports that a maximum of 3,752 electric vehicles with battery power less than 100 kW have been imported during this period. Similarly, 116 electric vehicles with a capacity of 101 to 200 kW and 2 electric vehicles with a capacity of 201 to 300 kW have been imported. In total, Rs. 11 Arba 23 crore 73 lakhs 92 thousand rupees were spent on importing 3,870 electric vehicles in one month, according to the Customs Department. Additionally, the department mentioned that the government has collected revenue of 3 billion 51 million 1183 thousand rupees from this.

Due to the reduction of taxes such as customs and excise duties on electric vehicles, the government has suffered a significant blow to its revenue.

Earlier, in a parliamentary session on Jestha 15, Finance Minister Dr. Prakash Sharan Mahat had unveiled the financial budget for the forth coming year.

Addressing a joint session (NA and HoR) of the Federal Parliament in the evening on that day, Minister Mahat announced to restructure the existing tax laws with regards to import of electronic vehicles (EVs).

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