ISLAMABAD: “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 the Senior Director of IMC Tariq Ahmed Khan while speaking at Pakistan Auto Parts Show (PAPS).
“The true growth of the industry lies in self-reliance and localisation 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 organised by Pakistan Association of Auto Parts and Accessories Manufacturers (PAAPAM).
“The contribution of the auto industry to the economy of Pakistan cannot be underestimated as IMC alone contributes 1 per cent 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 realise 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 and expect that they will play their part in localising 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 organising the Pakistan Auto Show and said that this has now become a great event in Pakistan assisting local vendors as they provide a platform to encourage investments.
