Pakistani government intends to reduce prices of small cars

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ISLAMABAD – Federal Minister for Industries & Production Makhdum Khusro Bakhtyar has sought suggestions from leading bodies of Pakistan’s auto sectors to reduce the prices of small cars to bring the cost down within the affordability of the lower middle class of the country.

He asked for the suggestions during a consultative session with representatives of the Pakistan Automotive Manufacturers Association (PAMA) and the Pakistan Association of Auto Parts & Accessories Manufacturers (PAAPAM) separately.

Mr. Razzak Dawood, Advisor on Commerce, Trade & Investment and Secretary Industries & Production Mr. Sohail Rajput also joined the meeting.

This meeting aimed to discuss the proposals submitted by both associations for Auto Industry Development & Export Plan (AIDEP), 2021-26.

The minister indicated that the new policy would focus on further growth & development of the automotive industry together with affordability, quality, availability, and indigenization of industry.

He further highlighted that the government would like to see an increased footprint of Electric Vehicles to improve the environment and to reduce oil import bill.

Both Associations lauded the efforts of the government to formulate the policy as universally accepted by key players.

The bodies also commended the current government for support in tough time of Pandemic through salary loan, investment loans and slashing down interest rates to protect the industry. At the end, the forum decided to hold the consultative sessions till finalization of AIDEP draft.

Read more: https://pakobserver.net/auto-part-makers-request-govts-support-for-expansion/