Initially, there was no such rule. This was imposed when our upper class started buying luxury German EVs. Then the tax was increased for above 50 kWh.
MG4 price should be close to Ora 03 if we compare prices in international market.
But unfortunately it has 51 kWh battery. Another factor of high price is both are CBUs. Companies should start assembling EVs instead of importing them.
Look at Seres 3. Very reasonably priced only because it's CKD with 49 kWh battery. Most sensible option right now. But its range is not 400 km, as the company claims here in Pakistan. It's 300 km as claimed in Europe by DFSK and realistic range is 280 km.