KARACHI: The import of used cars into the country increased by 67 per cent to 53,600 units worth around Rs75 billion in the last fiscal year of 2015-16 as compared with the previous fiscal year’s units.
Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) Senior Vice Chairman Mashood Ali Khan said this sale number is enough to enable investment of around $600 to $700 million in two plants of a size equivalent to Honda Atlas Cars Pakistan. These plants produce around 25,000 units in a year.
Mashood said with a population of 200 million, 55 percent of which are below the age of 30 years, Pakistan needs to focus on the automobile industry to generate jobs for young workers, technicians, engineers and management professionals. “Import of used cars can never serve this objective,” he added.
The local industry leader said the auto sector employs almost three million people and can become an engine of growth as happened in other Asian countries, such as Japan, Korea, Thailand, Indonesia, Malaysia, India and China.
Until the Import Policy Order 2004, there were adequate safeguards to ensure that these schemes were not misused and the domestic industry was not damaged from the import. However, the Import Policy Order 2005 incorporated major changes.
