National Assembly Takes Note of ‘Unprecedented Growth’ in Auto Industries
The arrival of new automakers in Pakistan has made the sector one of the most significant commercial avenues. The government has also been keeping tabs on this development and is taking a particular interest in it.
The Parliamentary Secretary for Industries and Production Aliya Hamza announced during a session of the National Assembly (NA) last Friday that the auto sector has had ‘unprecedented growth’ of late, and 21 new carmakers have established their presence over the last two years.
This has prompted an increase in demand for new vehicles, making the automotive industry the most lucrative in the country. It has also encouraged the government to make a new auto policy to improve the indigenization of car manufacturing and increase auto exports.
The Parliament Secretary also highlighted several other avenues that have registered growth including cement exports, subsidies on utility stores, the government’s relief to the poverty-stricken segments, and other developments.
The Ministry of Industries and Production is likely to present the policy draft to the federal government for approval at the beginning of November.
The news came directly from the Secretary of Industries and Production, Jawwad Rafique Malik, who had notified the parliamentary panel last month. However, no follow-up development has been reported since then.Advertisement
This has led to speculations about the revisions in the ongoing automotive policy, perhaps to discourage car imports and incentivize the complete localization of car manufacturing in Pakistan.