ISLAMABAD: Minister for Industries and Production Rana Tanveer Hussain on Wednesday said the government was committed to providing conducive environment for investment in automobile sector and assured the Japanese companies of ease business operations.
He expressed these views as he met the representatives of Japanese companies to discuss challenges faced by the Japanese automobile sector in Pakistan.
The discussions focused on matters related to exports, refunds, and the overall business environment for foreign investors in the country, said a news release.
The minister highlighted that local industries were currently paying higher taxes compared to others and stressed the need for reforms in the taxation system to support industrial growth.
He said incentives and concessions for industries would be linked to their export volumes, ensuring that companies contributing to the national economy would receive greater benefits.
He assured the Japanese representatives that their genuine concerns would be resolved on a priority basis to facilitate smooth business operations.
He said that local industries would be supported in exploring new export markets, enabling them to compete globally. He urged the automobile industry to actively work on increasing exports and improving product quality to remain competitive in international markets.
Reiterating the government’s commitment to economic growth, Rana Tanveer assured that industries would receive full support in generating higher revenues and attracting foreign investments.
