Amraiz Khan Muzaffarabad
CEO Indus Motor Company, Ali Asghar Jamali, industry experts, and part makers have demanded Pakistan to develop a national industrial policy for the period of 20 years so that the serious investors can come to Pakistan eventually attracting the Foreign Direct Investment in the field of Steel, Resin, Light Engineering etc. Thus further strengthening the local value addition in the whole value chain.
These expressed these views in the 6th Auto Industry Media Workshop 2022 held at a local hotel in Muzaffarabad. They also highlighted the role of Hybrids in transforming the automobile landscape in Pakistan and its impact on the development of a technology-driven engineering base.
Organised by Indus Motor Company, the workshop also highlighted localization levels achieved by the local auto industry and the impact of successive auto policies on the industry.
CEO IMC Ali Asghar Jamali, industry experts, and part makers briefed the media about the effectiveness of successive auto policies, factors affecting prices in the auto sector, and IMC’s vision of manufacturing Hybrid vehicles locally. Sustaining the publicly announced incentives during policy periods is the only solution to enhance the engineering sector, especially the automotive, they said.
Speaking on the occasion Mr. Jamali said, “The automotive industry in Pakistan is one of the fastest-growing industries in the country and it accounts for over 2-3% of Pakistan’s GDP. Pakistan is the 35th largest producer of automotives,”.
The CEO said that IMC is increasing production capacity to meet increasing customer demands while suppliers are also requested to cap up their capacities to meet future demands as the company aims to produce over 90,000 vehicles in 2022 with 100% efficiency and over time, while adding, “We are putting extra effort and time currently to produce vehicles more than our current capacity.”
He also mentioned that Indus Motor Company supports Government initiatives and measures to sustain developmental growth in the economy.
“We are the torchbearer of ‘Make in Pakistan’ philosophy. Continuing the legacy, Toyota has already invested $100 million to produce Hybrid Electric Vehicles (HEVs) in Pakistan and plans to bring Electric Vehicle (EV) in the long term when the country is ready for this technology,” he said.
