Auto industry key sector for Pakistan’s economy: Rana Tanveer

Government of PakistanAuto industry key sector for Pakistan's economy: Rana Tanveer

ISLAMABAD, Pakistan: The Japanese delegation led by Mr. Kenichi Ayukawa, Global Vice President, Suzuki Motor Corporation called on the Federal Minister for Industries and Production Rana Tanveer Hussain on Thursday at Islamabad.

The Meeting was attended by the Federal Secretary for Industries and production, Mr. Waseem Ajmal Chaudhary, the Chief Executive Officer, Engineering Development Board, Mr. Raza Abbas Shah and Syed Sibt-e-Abbas Zaidi, Joint Secretary, Large Enterprises Development (LED).

   

While welcoming the delegation, the Federal Minister for Industries and Production remarked that the auto industry is a key sector for Pakistan’s economy, providing significant contributions in terms of employment, economic growth, technology transfer, and industrial development.

The government is supporting the localization of the automotive industry by providing tax breaks and other incentives to automakers, and by investing in research and development.

The incentives on new technologies of Electric Vehicles and Hybrids are being provided including duty free import of plant and machinery for setting up plants for EV manufacturing. Recently, 43 companies have been issued manufacturing certificates for local manufacturing of EV 2/3 wheelers.

The Federal Minister stated that Pak Suzuki journey in the development of local industry has been marked by steadfast commitment to innovations, quality and customer satisfaction.

Over the last four decades, Pak Suzuki has played a vital role in the development of the local auto vending industry, contributing significantly to job creation, economic growth and technology transfer through arranging joint ventures and technical assistance agreements between local and foreign suppliers, hence paving the way for localization of several high-tech parts.

Mr. Kenichi Ayukawa, Global Vice President, Suzuki Motor Corporation shared that Suzuki is manufacturing vehicles in Pakistan since last 40 years. We are also exporting vehicles to other countries. Recently, the inauguration of the export of Suzuki Swift and GS-150 motorcycle from Pakistan marks a pivotal moment in Pakistan’s journey toward becoming a global player in the automobile industry.

The Federal Minister said that export is the top priority of the Government. The auto sector has been facilitated through an incentivized / concessionary regime for the past three decades. It is time that this sector which has been incentivized since long may start contributing significantly toward export revenue for the country. The government is ready to provide all the support needed to succeed in this national cause. This collaborative approach of the government shows its commitment to fostering a conducive business environment that promotes growth and sustainability of the Pakistan Auto industry.

Mr. Kenichi Ayukawa, Global Vice President, Suzuki Motor Corporation shared that Suzuki Motors Corporation wants to set up a biogas plant in Karachi. The renewable energy will be produced by using food waste and animal manure.

Rana Tanvir Hussain assured the visiting delegation that government will provide necessary support and facilitation to Suzuki Motor Corporation in business operations and expansion in Pakistan.

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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