Federal Minister for Industries and Production Ghulam Murtaza Khan Jatoi has said that announcement of the new auto policy in 2016 has attracted new foreign companies to Pakistan and the government hopes the momentum will continue in the current year as well.
Speaking at the inauguration of the Pakistan Auto Show (PAPS) 2017, Friday, he said that power generation projects and special economic zones under the China-Pakistan Economic Corridor (CPEC) are expected to play an important role in attracting Foreign Direct Investment (FDI) in Pakistan.
The three-day show, organised by Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam), is being held at the Karachi Expo Centre till Sunday.
The federal minister thanked local and foreign exhibitors for showing confidence in the economy of Pakistan.
Jatoi said that Pakistan’s auto sales have once again crossed the barrier of 218,000 units this year and it is expected that the industry will continue to grow.
“I hope that the auto industry will gear up to face the new challenges ahead of it,” he added.
Talking to Media men , Crown Group of Companies DGM – South Shabiir Pervaiz Qadir commented that the demand for higher engine motorcycles is gradually growing in Pakistan.
He informed that his company has imported a 250cc motorcycle from China and it is looking for a local distributor. Our next target is to produce this motorcycle in Pakistan, he added.
Paapam Chairman Mashood Ali Khan said, “Auto manufacturing is a fully documented industry and it ranks amongst the top three taxpaying industries in Pakistan.”
However, he said, the industry’s performance and growth is being threatened by a few issues that can be solved if the government shows more vigilance and commitment to the policy prescribed in the ADP 2016-2021 and execute investment plan accordingly.
He said that localisation of hi-tech parts in the country is possible only if the government supports the industry with investment incentives same as the Special Economic Zones (SEZ).
Also speaking on the occasion, Toyota Corporation Vice Chairman Toshiya Azuma said that new auto policy offers great incentives to the auto industry. “It is already attracting many new automakers and will lead auto sector to more business growth while it will surely increase consumer choice.”
“The thinking behind this policy will drive Pakistan’s auto industry forward,” said Toshiya, adding that it can then compete with other regional auto industries with great success.
He said that the auto industry is important for every developed country as this industry is often termed as the “mother of all industries” because it has many forward and backward linkages.
The Pakistan Auto Show 2016 is the pioneering automobile event for the rapidly developing automotive aftermarket in Pakistan. The show is collectively the country’s largest gathering of leading auto parts suppliers and auto service providers from all over the country.
The Cheif Executive Officer Engineering Development Board – Tariq Chaudhry inaugurated the Pakistan Auto Show 2016 at the Expo Centre in Lahore.
This annual event will continue from the 4th to 6th of March 2016. Organized by the Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM), the grand event features more than 135 international & local Auto-manufacturers and related enterprises.
This pioneering exhibition showcases the robust growth and vast potential of Pakistan’s Automobile industry. It reflects the nation’s pursuit to become the future hub for auto manufacturing, since Pakistan is already the cheapest source in the world, for producing tractors.Speaking to the media, during the spectacular inaugural ceremony, The Cheif Executive Officer Engineering Development Board – Tariq Chaudhry stated that: “Pakistan’s Automobile Industry continues to play a pivotal role in strengthening the national economy and elevating the image of Pakistan as a progressive country with a strong industrial base.”
He said that the government is deeply committed to taking all possible measures to encourage large-scale investments and enhance the business friendly environment for the Automotive and engineering sectors.
He further stated, “we endeavour to provide a more enabling infrastructure, on war footings, to set up industries all over Pakistan. I congratulate our local industrialists and engineers who have achieved remarkable success in establishing a modern engineering sector, which is creating tremendous new opportunities for value-added exports.”
Chairman PAAPAM Mumshad Ali stated that “The demand for automobiles is expected to rise continuously over the next 3-5 years. Countries of comparable population, such as Indonesia, produce 1.3 million vehicles annually. The big challenge for the Government is to give confidence to local assemblers & vendors to make immediate investments in capacity expansion to meet the future demand.”
The Chief Organizer of Pakistan Auto Show 2016 and the former Chairman of PAAPAM – Syed Nabeel Hashmi said that: “Over the years, the Pakistan Auto show has emerged as the most capable platform for enabling a Paradigm-Shift in Pakistan’s Automotive industry. Today, this Mega event attracts more than 75,000 visitors from all over Pakistan and abroad to see the revolutionary technologies being deployed in Pakistan.”
He said, “These participants include the global Automobile Brands, along with spare-parts manufacturers, component suppliers, Original Equipment Manufacturers (OEM vendors), automobile traders, investors, buyers and enthusiasts, who want to expand their business networks and gain more information about the innovations and products in this sector.”
Mr Hashmi further added that it’s the Automotive Industry only which being a captial and highly value added indsutry can boost Pakistan’s large scale manufacturing to over 6%-7%. The Indsutry gives massive employment as well as upgrades the society as a whole technologically. Mr Hashmi also asked for completion of the Lahore Expo centre which being in the stage it is cannot adequately accommodate the entire auto indstry under one roof.
The inaugural day of the show, saw an overwhelming response from industry stakeholders, international large-scale buyers and diverse consumer segments, as the Pakistan Auto Show features; cars, tractors, trucks, buses, 4X4, Motorcycles, three wheelers and exotic cars, while promoting a vast array of advanced technologies and solutions, including; Engines, Casting, Forging, Sheet Metals, Jigs & Fixtures, along with electronics, car-paints, tools, tires, batteries, plastic parts, Rubber parts and accessories.
During the event, the visitors can also acquire valuable information on Car-financing, Auto-insurance, Service-centres and other relevant offerings.
The three-day event also facilitates valuable training sessions, cohesive initiatives and technological collaborations among the Auto-engineering and trading communities in the industry, to accelerate industrial development said Mashood Ali Khan, Senior vice Chairman PAAPAM.
The event also attracts relevant Government officials, regulators, precision-engineering experts, Raw Material suppliers, used-car dealers, service, repairs, body-work professionals, Automobile Financing companies and other Service Providers. The industry experts will hold extensive deliberations to overcome the challenges and devise collective growth strategies. Several prestigious universities will present their insightful Academic projects during the event.
The participating companies include leading auto manufacturers from several industrially advanced countries, including; Toyota, Honda, Suzuki, Isuzu, Hino, UD Nissan and Yamaha from Japan, Massey Ferguson Tractors and Land Rover from the UK, Fiat Tractors from Italy, FAW Trucks & Cars from China and many more.
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