New auto policy contains incentives

ISLAMABAD: The government will give incentives to the investors who introduce new technologies under the new auto policy, said a minister.
“The government will give concessions to pioneer industries under the Auto Industry Development Programme-II [Auto Policy 2015],” said Murtaza Khan Jatoi, Federal Minister for Industries and Production in a meeting with a Japanese delegation. Tuneo Kitamura, Japanese Vice-Minister for Economy, Trade and Industry, was heading the delegation. Jatoi assured the delegation members of his support for the investors in the automobile industry and a competitive environment.
Kitamura hoped that the Pakistani government will give incentives to existing investors as well.
He appreciated considerable improvement the present government has achieved thus far as security and infrastructural developments are concerned. Jatoi said Japanese firms can use facilities such as the National Industrial Parks, operating under the production ministry. “They have secure environment with infrastructural necessities and tax-free incentives,” he said. “The country would benefit from Japanese cutting-edge technology for power and automobile sector projects.” He hoped that the two countries could raise the bilateral trade volume of $1.94 billion, “which is well below the potential of such a partnership.