LAHORE: The Pakistan Association of Auto Parts and Accessories Manufacturers (PAAPAM) has elected Munir K Bana and Usman Malik as Chairman and Vice-Chairman, respectively unopposed for the year 2022-23.
The other newly-elected members of the managing committee for the year 202-23 included Muhammad Nasim, Saad Mehmood Sherani, Mumshad Ali, Zain Ul Abdin Shariq, Tariq Nazeer, and Syed Asad Ali Naqvi.
While addressing the PAAPAM annual dinner grand ceremony, which was attended by a large number of auto parts manufacturers across the country, the PAAPAM newly-elected chairman thanked the members for reposing confidence on him to lead the auto parts vendors association for the second time, as he was also central chairman in 2012-13.
Munir Bana said that he would strive to emulate the integrity, vision, and leadership of the past leadership, as the PAAPAM served more than 350 members and affiliated its member enterprises through active business network services to promote economic vitality by helping to create a vibrant climate to support business growth. He appreciated the efforts of his predecessors and expressed to continue the policies to further the auto parts industry.
The new Vice-Chairman Usman Malik, on this occasion, vowed to promote the Association to new heights and paid tribute to the outgoing chairman Abdur Razzaq Gauhar and vice-chairman Abdul Rehman Aizaz and said that the outgoing body in the lead of its chairman and vice-chairman had been actively promoting the interests of the auto parts industry throughout 2021-22.
Usman Malik said that the high cost of doing business, issues of market access, and exchange rate are hindering Pakistan’s industrial growth, and the government would have to work on it in consultation with the stakeholders to resolve the problems.
PAAPAM Chairman Munir Bana added that the industry is facing challenges due to frequent and skyrocketing increases of all inputs, devaluation of the rupee, shrinking profits, and limited cash flow of vendors owing to higher demand at lower profitability.
He also urged the government to remove podiums on the way of importing raw materials and parts necessary for the processing industries. He was highly concerned about not materializing the import quota policy by the State Bank, the delay nearing the industry’s respite.
The Association is engaging with the OEMs as well as the government on related issues for early resolution of the matters, he said.
Copyright Business Recorder, 2022
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