The Economic Coordination Committee (ECC) has approved strict changes to vehicle import procedures by overseas Pakistanis. During the meeting at the Finance Division, Finance Minister Senator Muhammad Aurangzeb made the decision.
The ECC said that vehicles imported under the Transfer of Residence scheme are now required to be verified to originate from the same country where the sender lives. The committee called on the Power Division to develop a medium-term plan for gradually reducing fiscal support.
However, this restriction will not apply to vehicles imported under the gift scheme. The committee aims to eliminate long-standing misuse of the schemes through third-country shipments.
Under the revised framework, commercial-import safety and environmental standards will apply, and the intervening import period will be extended from two to three years, and imported vehicles will remain non-transferable for one year.
The committee has also approved a proposal to adjust Oil Marketing Companies (OMC) and dealer margins on MS and HSD based on national CPI movements for FY24 and FY25.
The increase, capped between 5% and 10%, will be released in two stages: half to be paid immediately, and the remainder tied to digitisation milestones to be reviewed by June 1, 2026.