Minister praises local parts manufacturers

LAHORE: Federal Minister for Industry and Production Rana Tanveer Hussain emphasised the importance of the automotive industry in the country's economic development, according to a press statement released by the Ministry of Industries and Production on Saturday.

Addressing the Pakistan Auto Parts Show 2024, Hussain praised local manufacturers' ability to produce high-quality parts and expressed optimism about the industry's future. "Pakistan is one of the 40 automobile manufacturing countries in the world," he added.

Tanveer urged all the stakeholders to work hard to accelerate industrial and agricultural development.

"Pakistani manufacturers are capable of producing highly complex parts that meet international standards," he remarked.

The minister stated that that the participation of local and international companies in the event will bring new innovation to the industry. He also highlighted the importance of the exhibition in promoting industrial development and strengthening tPakistan's economy.

During the event the minister also visited various manufacturing units.

The event was organised by Pakistan Association of Automotive Parts and Accessories Manufacturers at Expo Centre Lahore.

Pakistan's car sales rose to 27,585 units in the first quarter of current financial year, marking a 31% increase as compared to sales of 20,982 units in the corresponding period of last year. Moreover, according to PAMA, sales of trucks and buses increased by 74.7% to 772 units, and 60.4% to 154 units, respectively. Jeep and pickup sales rose by 51.5% to 7,517 units.