ISLAMABAD: Finance Minister Ishaq Dar has encouraged two leading French automobile manufacturers, Renault and Peugeot, to pour investment and grab a slice of the expanding vehicle market in Pakistan.
Meeting representatives of the two vehicle manufacturers in Paris on Wednesday, Dar briefed them about the recently announced automobile policy in Pakistan, which offered attractive incentives and concessions to foreign investors, according to a message received from the French capital.
The minister emphasised that with improved growth of Pakistan’s economy over the last three years, reflected in macroeconomic stability, sustained gross domestic product growth, stable exchange rate and higher consumer spending, the demand for new cars had grown sharply in the country. He invited them to set up their manufacturing plants in the light of the new policy and rising consumer demand.
Senior executives of both Renault and Peugeot praised the turnaround in Pakistan’s economy and expressed interest in investing in the automobile sector.
Published in The Express Tribune, September 16th, 2016.