Tariff Reduction: Auto part makers breathe sigh of relief

Paapam chairman says local motorcycle industry must not be affected, and a level playing field should be provided.

LAHORE:

Breathing a sigh of relief, the manufacturers of auto parts have said the government’s decision to gradually reduce tariff for the motorcycle industry, instead of doing it in one go, will not hurt the domestic industry and stimulate its growth as well as of the economy.

They were commenting on a decision taken by the Economic Coordination Committee (ECC) this week on gradually rationalising tariff structure for the motorcycle industry, In a statement, newly elected Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) Chairman Munir Bana agreed with Finance Minister Dr Abdul Hafeez Shaikh’s observations that in the whole process the local motorcycle industry must not be affected and a level playing field should be provided for all stakeholders.

Published in The Express Tribune, October 7^th, 2012.