Govt ensures favorable investment environment for automobile sector: FM

February 26, 2025 (MLN): The government is committed to providing a favorable investment environment for the automobile sector, ensuring that businesses can thrive and contribute to economic growth.

This was stated by Federal Minister for Industries and Production, Rana Tanveer Hussain, during a meeting with representatives of Japanese automobile companies to discuss key challenges faced by the sector.

The representatives expressed concerns over barriers to exports and delays in tax refunds, calling for immediate action to address these issues, according to the press release issued today.

Rana Tanveer Hussain assured the Japanese companies that their genuine problems would be resolved on a priority basis.

He emphasized that concessions and incentives for the sector would now be linked to export volume, encouraging companies to expand their international market reach.

He further highlighted the need for industries to focus on exporting skilled manpower as a means to boost national income.

Addressing tax-related concerns, Rana Tanveer Hussain acknowledged that local industries were paying higher taxes compared to international competitors.

He pledged that measures would be taken to facilitate local industries in exploring new export markets.

“To compete in the global market, local industries must enhance their quality standards,” he stated, urging the automobile sector to become more proactive in increasing exports.

The minister reaffirmed the government’s dedication to supporting industries in generating higher revenues, ensuring that Pakistan’s auto sector remains competitive on a global scale.

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