Export sector status sought for vending industry
Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) has urged the government to give export industry status to the local vending industry, which is fully capable of contracting the trade deficit not only through enhancing exports but also controlling imports through import deletion of industrial replacement parts.
In a letter written to Federal Minister for Industries and Production Hammad Azhar, the association has asked the government that there is a possibility of “import deletion” of industrial replacement parts, in addition to the automotive parts, through public-private partnership.
“Through import deletion we can minimise our dependence on imported goods by using reverse engineering technology in Pakistan under public-private partnership in line with the Chinese model, preventing the rapid outflow of billions of dollars spent on imported merchandise,” said Paapam Business Development Committee Convener MR Mirza Sikander Baig.
He observed that the government would have to consider this vending industry at par with the export industry in terms of support and concessions.
Published in The Express Tribune, February 28th, 2021.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.