Pakistan is expected to become 500,000 annual car market by 2023: PM

Prime Minister Shahid Khaqan Abbasi on Thursday said that Pakistan was expected to become a 500,000 annual car market by 2023 where Renault, Kia, Hyundai and a number of other automakers were entering the market to supplement Toyota, Honda and Suzuki.

The prime minister was talking to Carlos Ghosn, Chairman and CEO, Renault-Nissan on the sidelines of the World Economic Forum (WEF) in Davos, a press release received here said.

Minister National Health Services Saira Afzal Tarar and Minister of State for Information and Broadcasting Marriyum Aurangzeb, Special Assistant to the PM

Ali Jehangir Siddiqui and senior government officials were also present during the meeting.

The prime minister invited Renault-Nissan to consider Pakistan as their next investment destination.

Carlos Ghosn thanked the prime minister for his support and stated that Renault would bring its latest products and technological know-how to Pakistan. He said that with a car sales market of 0.3 million units per year, Pakistan has a huge potential in automobiles and auto-parts.

He stated that Renault was committed to bring its best products for Pakistani customers as it is looking at the market as one with huge growth potential.