Wednesday August 17, 2022

LCCI seeks relief in auto policy

By Our Correspondent
December 08, 2021

LAHORE: The Lahore Chamber of Commerce & Industry (LCCI) on Tuesday urged the government to incentivise the domestic auto industry in upcoming auto policy to ensure production of high-tech parts/components locally.

In a statement, LCCI president Mian Nauman Kabir said indigenisation in the auto sector is limited to manufacturing of steel metal parts, interior trim, seats, rubber and plastic parts, batteries, wheel rims, tyres, and lighting accessories.

He said more sophisticated moving parts (engine, transmission, etc) that require precision engineering are all imported, as they cannot be made locally up to international standards.

He added that transfer of technology in the auto sector would help to produce components domestically and also reduce dependence on foreign components.

He cited an example of India where the most important strength of auto industry is greater indigenisation and domestic availability of raw materials. The industry in India has developed capability to produce all automotive parts, ranging from engines, transmission apparatus, suspensions, brakes, and body, and chassis parts.