LAHORE: The Pakistan Association of Auto Parts and Accessories Manufacturers (PAAPAM) has co-opted Abdul Rehman Aizaz and Mumshad Ali as Chairman and Senior Vice-Chairman, respectively, unopposed for the year 2023-24, while Tuafiq Sherwani will continue as Vice Chairman of the Association for the next one year.
While addressing the PAAPAM at the occasion, 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 in him again to lead the auto parts vendors’ community.
Abdul Rehman Aizaz said that he would strive to emulate the integrity, vision, and leadership of the past leadership, as the PAAPAM served about 300 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 wanting to continue the policies to further the auto parts industry and enhance the industry to other engineering goods.
The new Senior Vice-Chairman, Mumshad Ali, on this occasion, also vowed to promote the Association to new heights and paid tribute to the outgoing Chairman, Munir K Bana, and Senior Vice-Chairman, Usman Malik, and said that the outgoing body, in the lead of its Chairman and Senior Vice-Chairman had been actively promoting the interests of the auto parts industry throughout 2022-23.
Mumshad Ali said that the high cost of doing business, market access issues, 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.
He 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 said that Pakistan’s macroeconomic goals, like GDP growth, employment generation, and export enhancement, can only be achieved through the ‘Make in Pakistan’ approach. PAAPAM members are geared up to adopt the new technologies for manufacturing high-tech auto parts to generate employment and substitute expensive import of auto parts. In order to achieve this national goal, PAAPAM will play its due role in formulating industry-centric policies in line with the government’s vision, said the newly-elected Chairman PAAPAM.
Munir K Bana, the outgoing Chairman, and Usman Aslam Malik SVC, also thanked the members and Executive Committee for extending unconditional support. Both the gentlemen resigned voluntarily to ensure the maximum participation of the PAAPAM. They were satisfied to leave the legacy in better hands.
Copyright Business Recorder, 2023
Comments
Comments are closed.