LAHORE: The manufacturers of auto parts have sought ‘key industry’ status for the automobile industry – which will lead to provision of incentives – highlighting that it provides livelihood to over 5% of the population, saves foreign exchange and contributes about 3% to the economy.
The automobile industry comprises assemblers of different types of vehicles as well as auto parts manufacturers, who produce the entire spectrum of engineering technologies necessary for assembling an automobile, says Pakistan Association of Automotive Parts and Accessories Manufacturers Chairman Munir K Bana.
In a statement, he said most the auto parts manufacturers were operating as small and medium enterprises, which do not enjoy access to bank credit. Citing the example of western governments, he pointed out that they offered bailout packages to rescue their auto industry in times of crisis – a support missing in Pakistan.
Published in The Express Tribune, February 3rd, 2013.
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