KARACHI: Engineering Development Board's Chief Executive Tariq Ajaz Chaudhry has said that Automotive Policy 2016-21 will boost auto industry and end monopoly of car manufacturers.
Talking to APP, he said that the automotive policy will also help encourage new investment and bring down vehicles prices besides availability of vehicles with more advanced safety and other features.
He said that there is conducive environment for investment and four to five new famous auto brands are coming up, and talks with them are under way in this regard.
Tariq Ajaz Chaudhry said that difference in vehicles' demand, supply, prices and facilities after investment by these companies will be the success of auto policy.
He pointed out that under the new automotive policy internationally recognised technology will be introduced in the country, as environment-friendly engines and the vehicles fitted with airbags and AGS system will be manufactured. Besides, he said, "We will move from Euro-II fuel category to Euro-4 and Euro-6 fuel category.
It will provide opportunity to new manufacturers to enter the market, and we will be able to export vehicles besides catering to local demand. Tariq Ajaz Chaudhry said, we intend to introduce world's famous brands in Pakistan to encourage an environment of competition, so that consumers could get vehicles of international standards at competitive prices.
Answering a question about cut in the prices of steel and petroleum products, he noted that there has been considerable reduction in the prices, however local manufactures have not transferred its benefit to consumers.
Replying to another question, he said that reservation of auto industry will also be addressed.
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