Import of used cars major irritant in way of investment

Amanullah Khan

Karachi—The manufacturers of international brands of cars including Japanese giant, Toyota; German’s Pride Volks Wagon and French’s dignity Renault were inclined to make joint ventures investment in Pakistan but they are reluctant mainly due to used Car Policy in the country.
This was disclosed by Chief Executive Officer of Engineering Development Board (EDB) Tariq Ejaz Chaudhry here on Friday. The EDB CEO lamented the local car manufacturers/assemblers for not introducing latest model and were confined to outdated models. The meeting discussed various issues pertaining to the engineering sector came under discussion particularly with respect to automotive industry of two wheelers, three wheelers and four wheelers.
Replying to the queries and question raised by Ghazanfar Ali Khan Chairman Standing Committee FPCCI, Tariq Ejaz CEO EDB stated that Engineering Development Board is a facilitator of manufacturers/vendors of engineering components. It does not compromise on the quality of the products and work for the safety and security of the consumers of Pakistan. Tariq Ejaz was critical on manufacturers of four wheelers for not introducing modern technologies with reference to the safety measures.
He also spoke about the manufacturing capacity of the four wheelers in Pakistan which are running at under capacity utilization due to which the prices of locally manufactured vehicles not only increases but also the import of new cars. Tariq Ejaz also emphasized on the quality related issues and technological advancement so that we could also exports auto products to other countries besides meeting of local demand.

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