These views were expressed by the speakers at the inaugural ceremony of Pakistan Auto Show (PAPS) 2019 at Expo Center Karachi.
The show is being organized by Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) from April 12 to April 14 at the Expo Center, Karachi where OEMs and auto part manufacturers are showcasing their products and expertise.
Chairman PAAPAM Muhammad Ashraf Shaikh and Chairman PAPS 2019 Mashood Ali Khan said PAAPAM has always played a pivotal role to provide business and growth opportunities to auto engineering industry as a whole. "At PAPS 2019, PAAPAM has established substantive business generation models for everyone including PAAPAM members this year's exhibition as well as for the representatives of the Allied Industry," they added.
Sr Director Corporate Strategy and Regulation Affairs, Indus Motor Company, Tariq Ahmed Khan said "Pakistan economy has a promising future. With improved governance and fiscal policies, optimum utilization of natural resources and increasing skills of young dynamic human capital, shining place for Pakistan is not a dream. With lowest motorization levels of 18 per 1000, the potential of achieving 500,000 is not far away."
"We are working to the best of our capabilities to realize the ADP 16-21 vision. But to achieve this vision, a vibrant domestic manufacturing industry is needed under conducive economic conditions," he added.
He urged the government to continue its consultation process with industry and remove barriers which are shaking consumer confidence. "One such barrier is 10% FED application on vehicle above 1700 vehicles," he pointed out and requested for its removal to encourage local vehicle manufacturing.
Meanwhile, Chief Executive Officer (CEO), Atlas Honda Limited, Saquib H. Shirazi talked about the future of the auto industry and highlighted growth in recent years despite challenges. He said auto industry is a well structured employment provider and from remote area like Layyah, Punjab, to big cities it provides jobs to skilled and unskilled labour.
He also said that localization of auto parts reduces the cost and auto parts if localized can substitute imports minimizing the pressure on our currency.