KARACHI: Addressing the inaugural session of the Pakistan Auto Show 2015 organised by Pakistan Association of Automobile Parts and Accessories Manufacturers (Paapam), the Pakistan president advised the automotive industry to offer more choices and quality products to consumers at affordable prices.
Mamnoon Hussain said, “We cannot afford to ignore the fact that the automotive industry has emerged to be a role model of development and growth for other sectors. However, there is a need to see why consumers are resorting to imported used vehicles and why can’t local manufacturers give the consumers an affordable quality car.”
Referring to the case when manufacturers of locally-produced motorcycles were compelled to bring down their cost due to easy availability of low-cost Chinese bikes, the president said, “These are important questions which the industry should ponder over while moving forward.”
According to the State Bank of Pakistan (SBP), Pakistan imports 57 percent of its total auto-related raw materials from Japan, which implies that production cost largely depends on exchange rate which normally forms the basis of frequent increase in retail prices.
