ISLAMABAD: The authorities have rejected notions regarding perceived hesitation in execution of the Automotive Development Policy 2016-21.
In a telephone interview to Dawn, Engineering Development Board CEO Mirza Nasim Baig said under ADP policy 2016-21, millions of dollars have already been invested in the sector since its inception.
He added the ADP Policy 2016-2021 till now had been paying rich dividends and why would they hesitate in its execution, he asked.
Mr. Baig the authorities were honest and serious in the execution of the ADP policy 2016-21 and compared to previous policy (2008-2013) was unable to meet its aims.
He pointed out the present policy was aimed at resolving the defects in the auto market and permit new entrants to enter the sector, which is project to further widen because of higher economic growth as China-Pakistan Economic Corridor (CPEC) gains are realized.
Since the initiation of ADP 2016-2021, over six new entities have invested in Pakistan and application of nine other companies are being processed which includes some renowned brands, stated EDB CEO.
Mr. Baig admitted they were fallible, but highlighted procedures were in place for both EDB and Ministry of Industries for making necessary changes.
He cited an example of auto investors requesting for permission of duty free import for 100 cars for test run purposes, which he said could have been misused was reversed.
The EDB CEO said they were willing to address issues which weren’t undermining the spirit of ADP 2016-2021, when queried about a case where a new entrant came into dispute with an old automaker.
The dispute pertains to previous month’s disclosure regarding granting of greenfield status to Foton JW Auto Park, which is owned by JW SEZ.
Master Motors has voiced its concerns over the granting of greenfield status to Foton JW Auto Park. It is already in the business of selling and assembling commercial vehicles in Pakistan.
Senior general Manager, Master Motors Jahanzeb Khan in a statement said according privileged status to Foton JW Auto Park provided it a 30 percent advantage in cost of commercial vehicles which are already being assembled and sold in Pakistan by them.
Foton JW Auto Park Chief Operating Officer Hamid Rasul was also reached for a comment by over telephone and expressed his dismay over this accusation.
Mr. Rasul in a written statement said the company attained the greenfield status after a prolonged process of examination by the appropriate department.
He added that every process had been carried out in a transparent way. CEO Foton JW Auto Park stated Master Motors had voiced objections to it being granted greenfield status because it wasn’t allowed to produce the said brand in Pakistan.