Auto, tractor policy soon to spur localisation

SAPM consults Millat Tractor's CEO to encourage domestic manufacturing, exports

ISLAMABAD:

The government will soon present a comprehensive Auto and Tractor Policy aimed at strengthening local manufacturing and indigenisation, the Special Assistant to the Prime Minister (SAPM) on Industries and Production, Haroon Akhtar Khan, said on Wednesday.

According to a statement, Akhtar Khan chaired a meeting with the chief executive officer of Millat Tractors, Sikandar Mustafa, to discuss the future roadmap of Pakistan's auto and tractor sector. Federal Secretary for Industries and Production Capt (r) Saif Anjum also attended the meeting.

The discussions focused on the upcoming Auto Policy, Tractor Policy and measures to promote local manufacturing and indigenisation in the engineering sector. The SAPM said that, under the directions of Prime Minister Shehbaz Sharif, a comprehensive and forward-looking Auto and Tractor Policy will soon be presented. He emphasized that the policy has been formulated after carefully considering the challenges faced by the auto sector.

He said the policy was designed to provide a balanced and growth-oriented framework, with an emphasis on strengthening domestic production and supporting export-led growth. He added that Pakistan's auto sector holds immense potential and can expand significantly through increased localisation and development of domestic manufacturing and indigenisation. He added that the core objective of the new Auto Policy is to empower industries, strengthen domestic production, and promote export-led growth.

During the meeting, Sikandar Mustafa said that Millat Tractors had achieved 90% localisation in tractor manufacturing. He added that the company had developed export capacity and was currently exporting tractors to international markets, reflecting the competitiveness of Pakistan's engineering industry.

The SAPM directed the Engineering Development Board (EDB) to ensure broad-based consultations with all stakeholders in the auto and tractor sector to develop an inclusive and practical policy framework that supports sustainable industrial growth.