A large number of visitors attended the Automotive Show 2024 organized at the Centaurus Mall.
The Centaurus has consistently been at the forefront of promoting local businesses through various activities, events, and exhibitions. This time, The Centaurus takes pride in organising an
CEO The Centaurus, President IDA, Sardar Yasir Ilyas Khan inaugurated the show that coincided with the 11th anniversary of the Centaurus Shopping Mall.
IGP of Islamabad Dr. Akbar Nasir Khan, SVP and Group Director Centaurus, Dr. Rashid Ilyas Khan President ICCI, Ahsan Zafar Bakhtawari, lifetime member of the ICCI Zafar Bakhtawari, CEO of ‘Cars of Pakistan’ and CEO of Hazara Automotive Community along with other dignitaries attended the event and congratulated its management on successfully running the Centaurus Mall for all these years.
The automotive show featured more than 800 cars of various categories including Vintage Cars, Luxury Cars, Sports Cars, High-End SUVs, Modified Cars, and Sports/Heavy Bikes. The event attracted over 150,000 visitors, especially car enthusiasts from across Pakistan.
Speaking at the inauguration ceremony of the car show, Sardar Yasir Ilyas Khan articulated his concerns regarding the government’s policies towards electric vehicles and luxury car imports, emphasizing that the current tax structures are highly discouraging.
He highlighted that electric vehicles were being taxed at 64pc and luxury cars with engine capacities exceeding 3000 cc incurred a hefty 424pc tax burden. He stressed the need for consistent and predictable tax policies, suggesting that annual budgetary decisions should determine import taxes to avoid fluctuations caused by mini-budgets.
Frequent changes in import duties often lead importers to face unexpected financial burdens, sometimes resulting in cars being auctioned at ports due to budgetary constraints, he said and proposed that the government should streamline import taxes, setting them annually to prevent confusion and financial strain on importers.
About the electric car sector, Sardar Yasir Ilyas Khan highlighted the imminent electric vehicle revolution, predicting a significant transition within 5 to 8 years due to their environmental sustainability and lower operational costs.
However, he lamented the inadequate infrastructure for electric vehicles in Pakistan, particularly the scarcity of charging stations. He pointed out that the limited availability of charging stations deters people from embracing electric cars, hindering the country’s readiness for the electric vehicle revolution.
Without proper infrastructure the adoption of electric vehicles would remain stagnant, while the rest of the world prepares for the electric vehicle transition due to the constant growth in the global warming crisis In conclusion, Sardar Yasir Ilyas Khan urged the government to address these issues promptly by implementing consistent import tax policies and investing in electric vehicle infrastructure to propel Pakistan towards a more sustainable automotive future.
He also stressed on the need of establishing a motorcity by developing a formula one track supported by hotels and resorts where several multinational companies would come for annual events thus giving a boost to tourism swell.
