Release date: 9th Feb
Karachi: Mr. Khizar Hayat Gondal, Federal Secretary of Industries & Production visited Indus Motor Company (IMC) on Wednesday 8th February. Accompanied by Mr. Tariq Ejaz Chaudhry, CEO Engineering Development Board (EDB), he visited the production facilities of the company and was also briefed about the various aspects of the company and the challenges faced by the sector.
The Federal Secretary took keen interest in the Company’s operations and commended the company’s efforts to manufacturing world class vehicles in Pakistan utilizing domestic workforce and numerous locally manufactured parts. He appreciated the support and technical assistance provided by the Japanese company Toyota in establishing a manufacturing facility in Pakistan and facilitating technology transfer from Japan to Pakistan. Commenting on the impact of Auto industry in the general industrial development of Pakistan, he lauded the industry for supporting countless small manufacturers and vendors through technology transfer, skill development and knowledge sharing.
While briefing the visiting delegation on IMC and its various initiatives, Chairman IMC, Mr. Ali Habib explained that through localization, the domestic auto industry purchases almost 140 million rupees worth of parts daily from local vendors, thereby saving foreign exchanges and creating countless job opportunities for the people of Pakistan. While optimistic about the government’s vision for the auto sector outlined in the new auto policy, he mentioned that the policy should encourage local manufacturing of parts as it will generate employment and provide for a sustainable value chain in the sector. Commenting on the various challenges faced by industries in general and the auto sector in particular, he mentioned that due to mis declaration and discrepancies in valuation mechanisms for imported auto parts, the local parts manufacturers are facing immense challenges. He further mentioned that the recent Free Trade Agreements being pursued by the government should be focused on improving the access of these regional markets for Pakistan goods, rather than making local production unviable.