AUTOMOTIVE INDUSTRY IN PAKISTAN: Messages from SHAUKAT FAYYAZ AHMED TARIN Federal Minister for Finance and Revenue, Islamic Republic of Pakistan

TEXT: I congratulate Pakistan Automotive Manufacturers Association (PAMA) and Business Recorder for making a joint effort to celebrate the new chapter in the growth of Auto-Industry in Pakistan.

The Government is firmly committed to putting the country on trajectory of all-inclusive, sustainable economic growth. The Government also stands committed to revive the business and industry that has been hit hard amid corona virus pandemic. The Auto Industry can prove an engine of sustainable economic growth with its enormous potential for creating jobs and efficient resource mobilization amid COVID-19 as well as in post-COVID scenario.

The new Auto Policy aims at providing high quality and affordable vehicles to consumers with an array of options enabling them to exercise their right of choice for best value for money. Also the vision of new Auto Policy is to make Pakistan a hub for competitive manufacturing of auto parts and vehicles for local markets as well as for exports.

The key focus is to ensure and create level playing field for local manufacturers to usher in new era of growth and prosperity for the auto industry. It also includes increase in export of automobile parts and vehicles to earn a valuable foreign exchange.

For the promotion of green economy with a view to save of our environment, Government of Pakistan is committed to promote manufacturing of electric vehicles in Pakistan. We have therefore provided great incentives for electric and hybrid vehicles in the current budget.

The Government has also provided major relief to the low income consumers by reducing duties and taxes on 850cc cars in the Federal Budget, 2021-22.

I am confident that the Automobile Industry will come up to the expectations of the consumers. My best wishes for the future endeavors of the Automotive Manufacturers Associations.

Copyright Business Recorder, 2021