Daily Times

ISLAMABAD: Federal Minister for Industries and Production Makhdum Khusro Bakhtyar held consultative sessions with representatives of the Pakistan Automotive Manufacturers Association (PAMA) and Pakistan Association of Auto Parts and Accessories Manufacturers (PAAPAM) separately.

Advisor on Commerce, Trade & Investment, Razzak Dawood and Secretary Industries and Production Sohail Rajput also joined the meeting. The meeting aimed to discuss the proposals submitted by both associations for Auto Industry Development & Export Plan (AIDEP), 2021-26.

The minister indicated that the new policy would focus on further growth and development of the automotive industry together with affordability, quality, availability, and indigenisation of the industry. He further highlighted that the government would like to see an increased footprint of electric vehicles to improve the environment and to reduce oil import bills. The minister emphasised to both associations ie PAMA and PAAPAM to table suggestions to reduce the prices of small cars to bring the cost down within the affordability of the lower middle class of the country. Both the associations lauded the efforts of the government to formulate the policy as universally accepted by key players. The bodies also commended the current government for support in the tough times of the pandemic through a salary loan, investment loans, and slashing down interest rates to protect the industry. In the end, the forum decided to hold the consultative sessions till the finalisation of AIDEP draft.