Sunday January 23, 2022

Auto policy to focus on growth

May 20, 2021

ISLAMABAD: Makhdum Khusro Bakhtyar, Federal Minister for Industries & Production on Wednesday said the new auto policy would focus on growth of industry together with affordability, quality, availability, and indigenisation.

Bakhtyar held consultative sessions with representatives of Pakistan Automotive Manufacturers Association (PAMA) and Pakistan Association of Auto Parts & Accessories Manufacturers (PAAPAM) separately, a statement said.

These meetings were aimed at discussing the proposals submitted by both associations for Auto Industry Development & Export Plan (AIDEP), 2021-26.

The minister told the stakeholders the government would like to see an increased footprint of Electric Vehicles to improve the environment and to reduce oil import bill.

He emphasised to both associations i.e., PAMA and PAAPAM to table suggestions to reduce the prices of small cars to bring the cost down within the affordability of lower middle class of the country.

Both Associations lauded the efforts of the government to formulate the policy as universally accepted by key players. The industry officials also commended the government for support in tough time of pandemic through salary loan, investment loans, and reduced interest rates to protect the industry.

At the end of the meeting, the forum decided to hold the consultative sessions till finalisation of AIDEP draft.

Razzak Dawood, Advisor on Commerce, Trade & Investment and Sohail Rajput, Secretary Industries & Production, also attended the meeting.