LAHORE: Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) Saturday welcomed the Economic Coordination Committee (ECC) decision to gradually bring down tariff regime for the motorcycle industry in such a way that local industry would not be affected.
The decision will go a long way in stimulating the growth of the domestic industry and a flagging economy.
The newly-elected Chairman Munir Bana and Vice Chairman Usman Malik said here that Federal Minister for Finance and Economic Affairs, Dr Abdul Hafeez Shaikh deserves appreciation for accepting demand of local auto industry to rationalise tariff regime gradually.
They agreed with the Finance Minister's observations that in the whole process it must be ensured that the local motorcycle industry is not affected and that a level playing field is provided to all the stakeholders.
The PAAPAM leaders said that Pakistan's motorcycle industry has progressed in a very impressive fashion over the last five years and today well over 60 companies are producing motorcycles in Pakistan.
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