KARACHI: The government is looking for various avenues to increase exports of the country and has set the export target of $1 billion for the manufacturers of auto parts over the next five years.
These views were expressed by head of Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) Ashraf Shaikh in a statement.
A total of 244 exhibitors were participating in the auto show, including 106 international exhibitors, 89 domestic exhibitors, 18 support organisations and three universities.
“The government has discussed export policy with auto parts manufacturers and has given them the task of increasing exports to $1 billion (over a period of five years) from just $70 million per annum,” said Paapam ex-chairman Shariq Suhail.
Earlier, only those auto parts manufacturers, who had contacts in the international market, considered exporting their products, whereas now, “the government has shifted its focus to the entire market. As a result, the whole market will become export-oriented”, he said. “Today, auto parts’ global trade is worth more than $800 billion, which in 2023 will cross $1 trillion. The task of $1 billion in exports from Pakistan is definitely difficult, but not impossible, as we have targeted only 0.1% of the global trade,” said the former chairman.
For achieving the $1-billion target, the government had removed roadblocks, including improvement in the regulatory duty structure and revival of the Engineering Development Board (EDB), which was a great step as the board would communicate with every relevant institution and stakeholder, he said.
The government has constituted a committee, which would meet every fortnight with auto parts manufacturers to gauge the progress, he said, adding that the government was going to make the EDB an autonomous body.
