“The government should realize that its treatment of the auto industry as a cash cow by burdening it with taxes ranging between 37 and 43 per cent per locally produced car, is hampering the growth of the auto industry,” stated Abdul Rehman Aizaz, Chairman of the Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) in the inauguration ceremony of the Pakistan Auto Show 2023.
Chairman PAAPAM said that around 300 companies in Pakistan are manufacturing thousands of components for car manufacturers in Pakistan, generating sizable employment and contributing heavily to the industrial output of the country.
“Majority of low-tech components and certain hi-tech components of this segment are made in Pakistan,” he said; however, he added that it doesn’t mean that the localisation goal is near completion like in Motorcycle and Tractor segments due to various reasons, including low Volumes, certain non-tariff barriers, reluctance in the transfer of technology by international companies etc.
He said that car consumption per capita in Pakistan is quite low even if compared with regional underdeveloped countries. PAAPAM believes that OEMs shall prioritise the potential of the market we possess and work on lines of tripartite joint ventures among international part manufacturers, local OEMs and auto part manufacturers of Pakistan.
Chairman PAAPAM said that the automobile horizon is not limited to passenger cars and SUVS only. It also comprises sectors like...
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