ISLAMABAD: With the aim to meet the demand of small cars in the country, Federal Industries and Production Minister Ghulam Murtaza Khan Jatoi has asked the Chinese investors to invest in automobile sector of Pakistan.
While talking to a delegation of Chinese investors, led by vice governor of Hubei province of People’s Republic of China, at his office, the minister told the Chinese officials about new auto-policy.
During the meeting, Jatoi briefly introduced salient features of the new policy and benefits for new entrants. According to officials, the vice governor of Hubei and other members of the delegation showed their excitement for investment in the fast growing economy of Pakistan. Pakistan’s car market has been dominated by Japanese automakers for decades.
Though Toyota, Suzuki and Honda car assembly plants are working round the clock, yet customers can still wait for months for the delivery of new vehicles. Due to its market size, many international car giants have shown interest in investing in Pakistani market.
According to official data, large-scale manufacturing (LSM) grew by 3.9pc during July-December 2015 as against 2.7 percent for the same period last year. The automobile sector was leading with 32 percent growth. No wonder, the greed of car assemblers cleverly reverts all the government attempts to balance the market by new investments.
