‘Five companies to compete in auto sector’
New automotive policy focused on providing timely delivery of vehicles to consumers
Pakistan Economic Forum Chairman Humayun Iqbal Shami said the automotive policy is crucial to increasing competition in the local market. PHOTO: FILE
ISLAMABAD:
In a veiled attempt to convey that there could be two new auto industry players, Board of Investment Chairman Dr Miftah Ismail said that there would now be five companies to manufacture cars and competition is likely to reduce prices.
Speaking to Radio Pakistan, Ismail said that the Automotive Development Policy was geared towards providing cheaper cars to consumers as well as ensure timely delivery of vehicles.
Market watch: Stock market dips on low oil prices, auto policy
He said that the government was working to constitute an organisation to monitor the quality of car engines, and they had also reduced taxes on imported cars. The prices of spare parts for buses and trucks have also been reduced, he added.
“This will motivate the local manufacturer to produce quality cars. Otherwise, people will have the option of imported cars.”
Pakistan Economic Forum Chairman Humayun Iqbal Shami said the automotive policy is crucial to increasing competition in the local market. “Cars are going out of range for the common man due to their high prices,” he added.
According to the new policy, after the consumer has paid, the company is bound to deliver the car within two months. This would lead to competition and better quality as Pakistan has the capacity to locally manufacture automobiles, Shami added.
Auto policy 2016-2021: Govt toughens up, Asif says consumer interest protected
Economist Dr. Saboor Ghayur reiterated that the policy would enable new entrants to establish their units and effectively compete with the three well-entrenched assemblers.
“Pakistan can also export its products through this policy, which would create employment opportunities. “This would also increase the country’s GDP and generate revenue. Our economy will strengthen as there is demand on a large scale.”
Published in The Express Tribune, March 23rd, 2016.
In a veiled attempt to convey that there could be two new auto industry players, Board of Investment Chairman Dr Miftah Ismail said that there would now be five companies to manufacture cars and competition is likely to reduce prices.
Speaking to Radio Pakistan, Ismail said that the Automotive Development Policy was geared towards providing cheaper cars to consumers as well as ensure timely delivery of vehicles.
Market watch: Stock market dips on low oil prices, auto policy
He said that the government was working to constitute an organisation to monitor the quality of car engines, and they had also reduced taxes on imported cars. The prices of spare parts for buses and trucks have also been reduced, he added.
“This will motivate the local manufacturer to produce quality cars. Otherwise, people will have the option of imported cars.”
Pakistan Economic Forum Chairman Humayun Iqbal Shami said the automotive policy is crucial to increasing competition in the local market. “Cars are going out of range for the common man due to their high prices,” he added.
According to the new policy, after the consumer has paid, the company is bound to deliver the car within two months. This would lead to competition and better quality as Pakistan has the capacity to locally manufacture automobiles, Shami added.
Auto policy 2016-2021: Govt toughens up, Asif says consumer interest protected
Economist Dr. Saboor Ghayur reiterated that the policy would enable new entrants to establish their units and effectively compete with the three well-entrenched assemblers.
“Pakistan can also export its products through this policy, which would create employment opportunities. “This would also increase the country’s GDP and generate revenue. Our economy will strengthen as there is demand on a large scale.”
Published in The Express Tribune, March 23rd, 2016.