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.
In this picture, the PCJCCI logo can be seen on September 1, 2022. — Facebook/Pakistan China Joint Chamber of...
A representational image of a US flag pictured alongside a street sign reading "Wall Street" in the New York city. —...
A security guard sits in front of a wall with signs and slogans at the operation building at the Pakistan Steel Mills ...
A worker cleans the entrance to the headquarters of Bank Indonesia, the nation's central bank, in Jakarta, Indonesia....
The MCB's logo is seen on a wall outside the bank's head office. — MCB websiteKARACHI: MCB Bank Limited on...
A foreign currency dealer counts US dollars at a shop in Karachi. — AFP/FileKARACHI: The rupee lost ground against...