Industries Federal Secretary Khizar Hayat Gondal 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.
He visited Indus Motors Company (IMC) and was accompanied by Tariq Ejaz Chaudhry, CEO Engineering Development Board (EDB). The federal secretary visited the production facilities of the company and was also briefed about the various aspects of the company and the challenges being faced by the sector.
He 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.
Commenting on the impact of the 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, IMC Chairman Ali Habib explained that through localization the domestic auto industry purchases almost Rs 140 million worth of parts daily from local vendors, thereby, saving foreign exchanges and creating countless job opportunities for the people of Pakistan.
Lauding the government’s efforts in introducing the new auto development policy, he mentioned that the policy should encourage local manufacturing of parts that will generate employment and create 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 the local parts manufacturers were suffering due to mis-declaration and discrepancies in valuation mechanisms for imported auto parts.
He further mentioned that the recent free trade agreements being pursued by the government should focus on improving the access of these regional markets for Pakistani goods, rather than making local production unviable.
