Karachi, June 14: Pakistan Automotive Manufacturers Association (PAMA) has appreciated the Govt, BOI and MoI’s efforts to attract new investment in the auto sector and has termed the newly approved Auto Policy a catalyst for attracting new entrants.
In a statement released on Thursday, DG PAMA said, “We have participated while the new policy was being formulated and have always supported entry of new investment in the auto sector; as it would help increase the market size, increase the choice to customers and, above all expansion and growth would benefit everybody.”
DG PAMA while referring to some baseless allegations leveled recently, denounced the sentiments misleading and unfounded wherein the local players have been alleged to be responsible for delays in the processing of the New Entrants cases under the new Auto Policy.
“However, the Board of investment shall be single point of contact for the investor with the government” is the mandatory position stated in the policy and we have no role to play in a matter that is entirely business of the government,” he added.
We understand that all the potential new investors are expected to follow the Eligibility Criterion under the ADP 16 – 21 and fulfill the same in the prescribed manner. Earlier, many new players have received government approval after they have set up plants while the industry, sitting in the Auto Industry Development Committee, fully supported their cases. The allegation against local players are without any basis, therefore, are clearly a fabrication by the interested parties just to invite undue attention to their apparently half-baked cases: the DG Said.
‘However, there should be complete adherence to the policy and no deviation should be made for any specific company else the ADP will forfeit its purpose. Consistency and predictability of the policy is all that industry needs and it can only be ensured through complete adherence to the ADP,’ he added.
He regretted that industry is being attributed towards false assumptions, which hurts industry’s sentiments.