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Pak Railways wants joint ventures with APM

Staff Reporter

Karachi

Pakistan Railway wants Joint Ventures with APM “Pakistan Railways will support local vendor industry and those parts which can produced in Pakistan will not be imported,” said the Federal Minister for Railway Minister, Sheikh Rasheed Ahmed at the Gala Dinner of Pakistan Auto Parts Show (PAPS) 2019.
He said that with 70 million commuters Pakistan Railway can be a huge market for auto parts maker and invited PAAPAM to come and explore the opportunities of joint ventures. “Until and unless business men come in front we cannot address economic challenges,” he added.
Sheikh Rasheed also shared his vision and said every member of the society and organization should come forward to cater the issue of unemployment. He said that auto industry has the potential of addressing unemployment issues.
Referencing his visit to Toyota Japan, He added that whole town was involved in producing some sort of products for Toyota, creating employment opportunities for whole town.
Meanwhile, Chairman PAAPAM Ashraf Sheikh said, “Pakistan Railways used to be a big customer for the automotive parts manufacturers. A lot of members have grown in size with the growth of Pakistan Railways in procuring auto parts from within Pakistan. But now the situation has been changed rather the Pakistan Railways rely more on Import of imported parts. Similarly, a strong localization plan in shape of auto parts development policy needs to be in place so that more import substitution may be created. Integration of PAAPAM Members with international companies for Joint Ventures has become a need of the time.
Chairman PAPS Mashood Ali Khan said that minister’s cooperation on this subject will enlighten and pave ways of developing the local automotive industry to reach the desired levels of production and utilization of our industry on catching the need of the Railways to develop and repair the coaches lying unusable in the Railway yards.
Also thanked all delegates and sponsors for making PAPS the largest auto show of Pakistan. He said that PAPS has become a brand and symbol of Pakistan’s automobile engineering and auto industry will soon serve as the launch pad of economic boost.