ISLAMABAD: Former President SAARC Chamber of Commerce and Industry (SAARC CCI), Iftikhar Ali Malik, on Tuesday, urged the government to revisit the liberalisation of the commercial import of used car policy to safeguard the domestic auto industry and protect the jobs of thousands of workers directly or indirectly associated with it.
In a statement, he said every developed and developing country protects its indigenous industries and urged the authorities to adopt a long-term vision that ensures sustainability, competitiveness, and innovation in the auto sector.
He cautioned that the import of used cars is poised to discourage future foreign investment in Pakistan’s auto sector, which has huge potential to grow and contribute to GDP.
He said the government must encourage local manufacturing and assembly by offering incentives, technology transfer, and investor-friendly policies rather than promoting an import-driven approach.
He said the influx of used cars through liberalised policies will hit local automobile manufacturers, who have already invested billions of rupees in Pakistan and are providing employment opportunities, along with contributing significantly to the national exchequer through taxes and duties.
He said a balance must be maintained to ensure that the local industry does not affect under unfair competition.
He added that protection of local industry would not only boost employment but also help in reducing the import bill, stabilising foreign exchange reserves, and paving the way for industrial growth and economic self-reliance.
