By In the fiscal budget 2024-25, the federal government introduced a revised withholding tax structure for locally assembled cars.
Finance Minister Muhammad Aurangzeb announced that the tax would now be based on the ex-factory price rather than the engine capacity as previously applied.
Following this announcement, MG Motors issued a notification outlining the impact of the new withholding tax on their car models. The company has increased the prices of MG HS.
Read More: Nanbai association announces increase in bread prices
According to the notification, the price of the MG HS Essence, originally set at Rs. 8,099,000, now includes a 2% withholding tax amounting to Rs. 161,980. As a result, the new price for this model is Rs. 8,260,980.
For the MG HS 2.0L variant, the withholding tax is Rs. 464,950, resulting in a revised price of Rs. 9,763,950. Similarly, the withholding tax on the MG HS Excite is Rs. 143,980, leading to a new price tag of Rs. 7,342,980.
