Nabeel Hashmi, Chairman, Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) has demanded of federal finance minister Shaukat Aziz to create a special fund to support auto parts sector for its export promotion.
The demand was placed before him during a meeting with the finance minister. Hashmi also demanded that the finance minister should make efforts to curtail the massive under-invoiced auto parts imports
Briefing about the meeting, he said that the issue of the steel and plastic raw materials and their price situation were also discussed with finance minister.
With regards to the recent government proposal on reconditioned cars and CKD tariff reductions, chairman Paapam said: "We need to have confidence in continuation of our policy where we can prepare ourselves for the post-WTO business environment. We also need to further invest in our capacities if we are to fulfil the increased demands of the Pakistan economy in the coming year. This can only be done where we know our investments are secure."
He said that he has informed the minister that in last two years record investments have been done in the auto parts manufacturing sector. This has led to short supply of skilled persons in this sector.