Govt to soon announce automobile industry policy: Dastagir

KARACHI:  The Government will soon announce automobile industry policy to develop this important sector–vehicles manufacturing and assembling, and auto parts manufacturing- and to take care of all other stakeholders, said Federal Minister for Commerce Engr. Khurram Dastagir Khan here Saturday.

“Through new auto industry policy, we will create a balance in the interests of the manufacturers, consumers and the people working there; with focus on attracting more investment to this sector and generating maximum jobs,” said Federal Minister for Commerce Engr. Khurram Dastagir Khan while addressing the  members of automobile industry after visiting various stalls at three-day international Pakistan Auto Show 2015 at Expo Centre Karachi.

The exhibition organised by Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) from March 6 to 8 has witnessed a large  number of  visitors besides  delegates from 13 countries including  Malaysia, Iran, Iraq.

The Minister informed the auto manufacturers that engineering sector is one of the priority sectors of Prime Minister Muhammad Nawaz Sharif. Ministry of Industries and Production, and Ministry of Commerce  also stand  behind this sector, he said.

Under Strategic Framework Trade Policy, which is to be announced in next couple of months, engineering sector will enjoy priority, he added.

He described this auto show as  a very successful event and hoped that such shows will be held every year to showcase Pakistan’s auto products and increase the share in regional and international markets.

To a demand by Chairman PAAPAM, Siddique Mistri, the Minister assured that for the term of 2016-17 Chairman of PAAPAM will be placed as member on the Exports Development Board (EDF).

He highlighted the Government’s positive policies and steps to revive and strengthen the country’s economy.

The Minister, on this occasion, distributed First PAAPAM’s Exports Trophy awards to PAAPAM members. Chairman, Trade Development Authority of Pakistan (TDAP) S.M. Muneer presented  a memento to the Federal Commerce Minister.

The Minister also witnessed signing of two MoUs between PAAPAM and Iraq’s Chamber of Commerce and Industry aimed at  promoting Pakistani auto parts in Iraq.

Chairman TDAP, S.M. Muneer emphasised on more government support and incentives to the auto industry.

Chairman PAAPAM, Siddique Mistri spoke of the issues facing auto industry like increase in duties on steel which is the main raw material for this industry.

He also called for allocation of funds from EDF for setting up auto parts testing centres, and for establishing display centres to showcase their products.

Mistri  also called for creating a separate ministry for auto industry as  done in case of textile industry so that this important sector is  duly promoted.

PAAPAM’s former chairman Aamir Allawala gave detailed performance account and the future prospects of this industry.

He also called for more incentives and facilitation to this sector by the government.

Source: APP