Renault to start assembling cars in Pakistan by 2018, says Board of Investment
‘The French car manufacturer’s decision to invest in country is outcome of efforts by Finance Minister Ishaq...
PHOTO: AFP
ISLAMABAD:
“Renault has decided to invest in Pakistan. They will start assembling cars in Pakistan by 2018,” the BoI said in a statement, claiming the development was the outcome of the “hectic efforts and persuasion” by Finance Minister Ishaq Dar.
Dar woos French automakers Renault and Peugeot to invest in Pakistan
“The company will invest $100 million to expand the capacity of Ghandara plant where it will assemble the vehicles”, said Miftah Ismail, Chairman BoI told The Express Tribune.
Pakistan has long been struggling to bring at least one foreign new brand to break the monopoly of the existing three dominant players.
The Duster could be available at a price of around Rs2.5 million, which is even lower than the prices of 1500cc Japanese made cars, said the Board's officials. The company will also introduce up to 1200cc cars to cater the needs of the upper-middle class, the officials added.
The finance minister had in September met representatives of the two vehicle manufacturers in Paris and briefed them about the country’s automobile policy, which offered attractive incentives and concessions to foreign investors.
Pakistan wants to shake up its Japanese-dominated car market and loosen the grip of Toyota, Honda and Suzuki, whose locally assembled cars are sold at relatively high prices but lag behind imported vehicles in terms of quality and specifications.
Established in 1899, the automobile company produces a range of cars and vans, and has also manufactured trucks, tractors and tanks, among others vehicles in the past.
“Renault has decided to invest in Pakistan. They will start assembling cars in Pakistan by 2018,” the BoI said in a statement, claiming the development was the outcome of the “hectic efforts and persuasion” by Finance Minister Ishaq Dar.
Dar woos French automakers Renault and Peugeot to invest in Pakistan
“The company will invest $100 million to expand the capacity of Ghandara plant where it will assemble the vehicles”, said Miftah Ismail, Chairman BoI told The Express Tribune.
Pakistan has long been struggling to bring at least one foreign new brand to break the monopoly of the existing three dominant players.
The Duster could be available at a price of around Rs2.5 million, which is even lower than the prices of 1500cc Japanese made cars, said the Board's officials. The company will also introduce up to 1200cc cars to cater the needs of the upper-middle class, the officials added.
The finance minister had in September met representatives of the two vehicle manufacturers in Paris and briefed them about the country’s automobile policy, which offered attractive incentives and concessions to foreign investors.
Pakistan wants to shake up its Japanese-dominated car market and loosen the grip of Toyota, Honda and Suzuki, whose locally assembled cars are sold at relatively high prices but lag behind imported vehicles in terms of quality and specifications.
Established in 1899, the automobile company produces a range of cars and vans, and has also manufactured trucks, tractors and tanks, among others vehicles in the past.