Jahangir Tareen commends Indus Motor on continuous capacity expansion - Sep 15, 2005 Karachi, September 15, 2005: Federal Minister for Industries, Production and Special Initiatives, Jahangir Khan Tareen visited the Indus Motor Plant at Bin Qasim, Karachi where he inaugurated the latest plant expansion project During the visit, the minister was given a detailed presentation by the Indus management team followed by a tour of the manufacturing facilities wherein he closely examined the plant and reviewed the company’s progress. He visited the display of locally made auto parts and commended Indus Motor and Toyota Motor Corporation for bringing the latest automotive technology to Pakistan. While inaugurating capacity enhancement facilities at the plant, Jahangir said, “This phenomenal growth of the auto sector is due to well managed polices which have resulted in positive economic trends. The industry is set to achieve a production of 200,000 units this year, a 400% increase from 50,000 units 4 years ago. All this is bringing in more investment, creating employment opportunities, and facilitating technology transfer”. Commenting on government’s stance on the auto sector, the minister reiterated the government’s commitment to the local automobile manufacturing industry. “We will work with all the stakeholders and develop a long-term auto policy before the end of this year. Our auto industry will Inshallah reach production figures of 500,000 per year units before 2012”. He congratulated Indus Motor on the capacity expansion and commended its quality and modern shop floor practices, as well its efforts to upgrade auto parts Vendors. The Ambassador of Japan to Pakistan, Nobuaki Tanaka, also present on the occasion, appreciated the contribution of Toyota Motor Corporation and Indus Motor Company. He mentioned that “Toyota has changed the industrial landscape of Pakistan. With continued support from our local partners like Indus Motor, Japan is sure to continue its role in technology transfer.” The Japanese ambassador also stressed the need for a long term auto policy for continued investment in this sector. Thanking the Indus Motor Team, its Japanese partners, its Vendors, and Dealers, Ali S Habib, Chairman Indus Motor, highlighted the company’s contribution saying that with enhanced production its employment had gone up to 1500 people, contribution to the government exchequer was Rs10 billion in the last fiscal year, the company was buying Rs 40 million worth of local parts each day, and currently investment by the company for expansion had exceeded Rs 1 billion. He praised the Indus Team Members saying “Quality cars are made by quality People”. Ali Habib reiterated the company’s commitment to social contribution saying, “As has been done by Indus Motor on such joyous occasions in the past, as a good corporate citizen, we are making a humble contribution of Rs 5 million to Lahore University of Management Sciences (LUMS)”.