Beijing, 21 October 2021 (TDI): Pakistan Ambassador to China, Moin ul Haque arranged a roundtable seminar on Pakistan Automobile Industry at Pakistan Embassy, Beijing. The Seminar was attended by representatives of over 50 renowned automobile companies.
Ambassador Moin ul Haque in the seminar said that Pakistan is planning to increase the annual production of automobiles. Pakistan’s current production is around 250,000 units per annum but Pakistan is looking forward to increasing this number. Pakistan will increase its annual production of automobiles by 6 to 8 million per annum in the next 5 years.
The goal is quite ambitious but it is not impossible. Pakistan’s yearly growth in Production signifies Pakistan’s capability in achieving its goals. It is highly possible for Pakistan to reach its goals due to the warm response received by different automobile companies. A number of Chinese companies are already operating in Pakistan while more than 10 other automobile companies have shown interest in investing in a joint venture.
The joint venture would be a collaboration between Chinese automobile companies and local partners in the private sector of Pakistan. The joint venture would be a collaboration between Chinese automobile companies and local partners in the private sector of Pakistan.
Ambassador Haque said that Pakistan has great potential pertaining to the automobile industry. The increasing demand for automobiles in Pakistan makes the industry the fastest growing in Pakistan. Such favorable trajectories have encouraged the Government of Pakistan to introduce a new policy. This new policy would provide incentives and offer concessions on taxes announced Ambassador Haque.
Automobile companies participating in the conference took great interest. Representatives of the automobile companies operating in Pakistan deliberated by sharing their experiences.
