French manufacturers invited to set up automobile plants in Pakistan


Islamabad—Finance Minister Ishaq Dar invited leading French automobile manufacturers to set up their automobile manufacturing plants in Pakistan.
Dar offered the invitation during his meeting with French automobile manufacturers Renault and Peugeot, in Paris on Wednesday. He invited them to set up their manufacturing plants in the light of the new policy and growing demand, said a statement issued by Finance Ministry.
The minister briefed them about the recently announced automobile policy of the Pakistan government which has been giving attractive incentive and concessions for foreign investors. He emphasised that with the resurgence of Pakistani economy in the last three years, manifested in macroeconomic stability, sustained GDP growth, and stable exchange rate and increasing consumer spending, there is a strong demand for new cars in the country.
The Senior Executives of both Renault and Peugeot lauded the remarkable turnaround in Pakistan’s economy and expressed interest in investing in the automobile sector in Pakistan. Chairman BoI, Ambassador of Pakistan to France and French Ambassador to Pakistan also attended the meeting.
Meanwhile, addressing Pakistan France Business Council meeting in Paris, Finance Minister Ishaq Dar has said Pakistan is committed to provide all possible facilities to foreign investors in the country. The minister said the investment climate in Pakistan is conducive to the European investment.
He said foreign companies working in Pakistan are having un-paralleled profits. Ishaq Dar said Pakistan offers business investment package which no other country from the region has offered. The finance minister said Pakistan’s strategic location makes it an attractive destination for foreign investment. Pakistan has attained four point seven percent growth rate which is better than the growth achieved in the last eight years.
He invited the French companies to take full benefit of China-Pakistan Economic Corridor which will link Pakistan with Afghanistan, Central Asian Republics and Europe.
He said there has been an unparalleled investment in North Waziristan despite security fears and Karachi is opening up for various investment opportunities for foreign investment including France.
During the meeting, Chairman Investment Board Miftah Ismail briefed the French investors about opportunities and facilities in Pakistan.—APP