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Federal Cabinet to accord approval to new Auto Policy next month

Government of PakistanFederal Cabinet to accord approval to new Auto Policy next month
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ISLAMABAD, Pakistan: The Federal Minister for Industries and Production Khusro Bakhtiar has said that the new Auto Policy will be furnished before the Federal Cabinet next month for approval.

While addressing a News Conference along with the Minister for Information and Broadcasting Chaudhary Fawad Hussain in Islamabad on Wednesday, Khusro Bakhtiar said that the new Auto Policy will especially focus on localization and making the auto sector export-oriented.

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The minister said that our focus will be to ensure the availability of a quality car to the people at a fair price.

The minister for industries and production pointed out that 164,000 vehicles were manufactured in the Country last year.

The federal minister said that the vehicles manufacturing capacity will be enhanced to 300,000 in 2021, generating additional 300,000 job opportunities for the people.

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Khusro Bakhtiar said that special facilitation is also being extended to those who are purchasing a car for the first time.

The minister said that it will be also ensured that the customers get their vehicles in a timely manner. He said that there will be a penalty if the customers were not provided with vehicles in 60 days’ time.

Khusro Bakhtiar said that the manufacturing of electric and hybrid vehicles will also be encouraged which will also accrue benefits for the economy.

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In addition, he said that the prices of different vehicles are coming down in the Country as a result of tax relief announced by the government for the auto sector. He said that the notification regarding the reduction in the prices of vehicles will be issued in the next few days.

In his remarks, the Information and Broadcasting Minister Chaudhary Fawad Hussain said that the present government has put the economy on the right track.

Fawad Chaudhry said that the current account deficit has been brought to zero whilst the industries and the agriculture sectors have been revived.

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