New Auto Policy to focus on indigenization of the industry

May 20, 2021: Federal Minister for Industries & Production Makhdum Khusro Bakhtyar held consultative sessions with representatives of the Pakistan Automotive Manufacturers Association (PAMA) and Pakistan Association of Auto Parts & Accessories Manufacturers (PAAPAM) separately on Wednesday.

Advisor on Commerce, Trade & Investment, Razzak Dawood, and Secretary Industries & Production, Sohail Rajput also joined the meeting. This 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 & development of the automotive industry together with affordability, quality, availability, and indigenization 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 the oil import bills.

The Minister emphasized 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 lower middle class of the country. Both 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 finalization of AIDEP draft.

Press Release