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8 new companies to invest in auto sector

8 new companies to invest in auto sector

 

KARACHI: The government of Pakistan has approved eight applications of new entrants who want to set up vehicle assembly plants in Pakistan including the passenger vehicles.

This was informed by a representative of the Engineering Development Board (EDB) during an open hearing on the Automobile Sector in Pakistan organized by The Competition Commission of Pakistan (CCP) on Thursday.

He said that eight applications of new entrants were approved to set up vehicle assembly plants in Pakistan including the passenger vehicles. This would result in considerable foreign direct investment in the country creating more jobs. The EDB, was providing full support to strengthen the engineering base in Pakistan by creating a level playing field for all manufacturers, he further said.

The CCP’s bench, comprising the Chairperson Vadiyya Khalil, and Members Dr. Shehzad Ansar and Dr. Muhammad Saleem, conducted the open hearing that was attended by the representatives of Federal Board of Revenue, Ministry of Commerce, Engineering Development Board (EDB), Excise and Taxation, representatives of auto manufacturers including Indus Motor Company Limited, Pak Suzuki, Pakistan Automobiles Manufacturers Association (PAMA), Pakistan Automobile Assemblers Dealers Association (PAMADA), Pakistan Association Of Automotive Parts & Accessories Manufacturers (PAAPAM), online platforms including Pakwheels, car importers, and consumers in large number.