The Ministry of Industries and Production has prepared a five-year auto policy, proposing the gradual abolition of duties on imported vehicles.
Sources said the policy will be submitted to the International Monetary Fund (IMF) for approval before any formal announcement.
The proposal included reducing customs duty to 15 per cent over a period of five years. Measures have also been suggested to tighten safety standards and the licensing system.
According to sources, the final draft will be shared with the IMF by the end of the current month.
Following clearance from the IMF, the policy will be placed before the federal cabinet for approval.
