“Indus Motor Company (IMC) sources 126 million local parts every working day and if you touch the Corolla, there is a 90% chance that you are touching a locally manufactured part.”
This was stated by Tariq Ahmed Khan, Sr. Director of IMC while speaking at Pakistan Auto Parts Show (PAPS).
“The true growth of the industry lies in self-reliance and localization and as an auto manufacturer based in Pakistan, our vision is to make for Pakistan, in Pakistan and with Pakistan,” Tariq added
IMC is the platinum sponsor of the annual auto parts show organized by Pakistan Association of Auto Parts and Accessories Manufacturers (PAAPAM), which is being held in Lahore this year from 2nd March to 4th March 2018.
“The contribution of the auto industry to the economy of Pakistan can not be underestimated as Indus Motor Company (IMC), alone contributes 1% of the total revenue collection by the National Exchequer,” he added.
“According to an independent research conducted in Pakistan, the automotive market demand is expected to reach 500,000 units by 2025. However, if the current trend of growth continues, we will cross this mark much earlier,” said Tariq.
“Under ADP 16-21, new employment opportunities will be created and we are hopeful that this policy will generate employment for roughly 4 million people in Pakistan,” he added.
He said that IMC is working to the best of its capabilities to realize the ADP 16-21 vision but to achieve this vision, a vibrant domestic manufacturing industry is needed along with conducive economic conditions and stable policies.
“The increasing trade deficit coupled with pressures on the Pak Rupee, point towards a difficult time for local manufacturers in Pakistan. Rising fuel prices as well as regulatory duties do not make the situation any better,” he added.
He said that as part of our vision to develop Pakistan’s local automotive industry, we warmly welcome the new players with the hope and expect that they will play their part in localizing critical vehicle components and drive growth in the local industry, generating employment opportunities for thousands and contributing significantly to the GDP of Pakistan.
He congratulated Paapam on organizing PAPS and said that this has now become a great event in Pakistan assisting local vendors as they provide a platform to stimulate investments.