The government will soon be announcing the new auto policy in order to renew investment in the automobile industry, says Ghulam Murtaza Khan Jatoi, the Federal Minister for Industries and Production.

“Our aim is to invite more and more investors into the country,” Jatoi said, to improve security and macroeconomic picture; he stated that the new automobile manufacturers along with the existing ones wanted to pour capital into Pakistan.

 “The Ministry of Industries wants to move ahead with the new auto policy, taking into account reservations of the Federal Board of Revenue (FBR),” Jatoi said while talking to Karachi Chamber of Commerce and Industry (KCCI) representatives at the head office, last Monday.

New Auto Policy

“We are in contact with Fiat, Renault and some other carmakers to bring them to Pakistan so that people get jobs as well as cheap and quality cars,” Jatoi added.

The government wanted to announce the latest auto policy pending for over three years. The FBR, however, believed that the current carmakers must not receive the same incentives as the new entrants; main reason behind the policy announcement delay.

Honda Civic Sedan 2016: Review, Specification & Price in Pakistan

He also stated that the federal government was all ready to assist the Sindh government on every aspect, especially on security issues.

Despite all our good intentions, we cannot interfere in provincial matters. The security situation in Karachi has improved because of continuous support of the federal government to all departments concerned in Sindh,” Jatoi said.

However, Jatoi warned that all benefits of Karachi operation might be pointless if the country does not terminate the war against terrorism.

“There is a need to further consolidate the security situation so that more investors can come and invest in Pakistan. The federal government stands committed to resolving the power crisis, hopefully, by the time it leaves the office in 2018,” Jatoi said.

Volkswagen to Set Foot in Automobile Industry in Pakistan

Stay tuned to Brandsynario for further updates!