LAHORE: Government will support manufacturers through prudent policies and encourage them to enhance capacity and transfer of technology to benefit local consumers and increase exports of Made in Pakistan motorcycles, Chairman Federal Board of Revenue FBR Mumtaz Haider Rizvi said.
He was inaugurating Atlas Lahore Honda motorcycle’s plant production capacity enhancement to 0.75 million bikes a year with US$35 million investment. He said he looks forward to their next landmark of achieving production and sales targets of one million motorcycles a year, as it will be direct support to achieve FBR’s revenue collection targets. He asked visiting Honda Japan officials to plan two million motorcycles production for local market and tap regional markets.
He said Pakistan could be considered among biggest markets of motorcycles with talented workforce and thriving economy which is most suitable recipe for planning further investment. Atlas Honda’s plant saves valuable foreign exchange by deleting 94% of motorcycle parts and earns foreign exchange through exports. FBR regards Atlas Honda as one of role models among Pakistani tax paying organizations.
President Honda R&D Southeast Asia Kenji Kawaguchi assured consistent policies from government and continuous support from FBR will encourage Honda Japan to increase its role in Pakistani motorcycle market’s development. "I expect from Honda to introduce several new and improved models in coming years in order to serve better Pakistani customers."
Chief Executive Atlas Honda Saquib Shirazi said company will now undertake feasibility study to increase annual production of motorcycles to one million units estimated to cost around additional $50 million. "Enabling environment provided by government was instrumental in phenomenal growth of this sector even during periods of economic recession. Atlas Honda was market leader in year 2000 and still enjoying same position with eight times increase in production of units."
"AHL believes in fair competition and this is reason motorcycles prices are stable. Having 94% localization of our brands, our exports doubled this year to around 20000 units. We hope to achieve export target of 100000 units in next three to five years," he added.
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