Government will announce new auto policy soon: Jatoi

In talks with Fiat, Renault and others to produce better-quality cars

KARACHI: The government will soon announce a new auto policy to facilitate fresh investment in the industry, said Federal Minister for Industries and Production Ghulam Murtaza Khan Jatoi.

“The Ministry of Industries wants to move ahead with the new auto policy, taking into account reservations of the Federal Board of Revenue (FBR),” he said while speaking to representatives of the Karachi Chamber of Commerce and Industry (KCCI) at its head office on Monday.



“Our aim is to invite more and more investors into the country,” Jatoi said, adding with an improved security and macroeconomic picture, existing as well as new automobile manufacturers were looking to pour capital into Pakistan.

The government wants to announce the new auto policy that has been pending for more than three years. However, the FBR believes that the existing three carmakers should not get the same incentives as the new entrants - primary reason behind the delay in announcement of the policy.



“We are in contact with Fiat, Renault and some other carmakers to bring them to Pakistan so that people get jobs as well as cheap and quality cars,” added Jatoi.

Replying to a question, he said the federal government was ready to help the Sindh government on every front, especially on security issues.

“Despite all our good intentions, we cannot interfere in provincial matters. The security situation in Karachi has improved because of continuous support of the federal government to all departments concerned in Sindh,” Jatoi said.

However, he warned that all gains of the Karachi operation might become pointless if the country failed to take the war against terrorism to its logical end.

“There is a need to further consolidate the security situation so that more investors can come and invest in Pakistan. The federal government stands committed to resolving the power crisis, hopefully, by the time it leaves the office in 2018,” he added.



KCCI President Younus Muhammad Bashir said the role of the federal government was very important in improving the security situation in Karachi. However, he urged the federal minister to visit Karachi on a frequent basis to listen to the problems of the business community.

“Despite the positive role of the federal government, we believe there is a serious disconnect between federal ministers and the business community of Karachi,” added Bashir.

Published in The Express Tribune, December 22^nd, 2015.

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