ISLAMABAD: Under the Auto Development Policy 2016-2021, 15 new companies have been awarded the Greenfield status while two companies have been awarded the Brownfield status for the revival of automobile sector units in the country.
According to an official source, the committed investment so far is more than $1,169 million.
The investors that have been granted the Greenfield status would manufacture cars, light commercial vehicles, SUVs and heavy commercial vehicles.
The companies that received greenfield awards under ADP included Kia Lucky Motors Pakistan Ltd, Foton, JW Auto Park (Pvt) Ltd, Regal Auto Mobile Industries (Pvt), Sazgar Engineering Works Ltd, United Motors (Pvt) Ltd, Master Motors Ltd, Khalid Mushtaq Motors (Pvt) Ltd, Pak China Motors (Pvt) Limited, Hyundai Nishat Motors(Pvt) Ltd, Topsun Motors and Engineering Services (Pvt) Ltd, Al-Futtaim Automotive Pakistan (Pvt) Ltd, Khalid and Khalid Holdings (Ptv) Ltd and Hanteng Motors Company (Pvt) Ltd.
Similarly, two nonfunctional units, Dewan Farooq Motors and Ghandhara Nissan Ltd, were included in the Brownfield category.
The Greenfield award provides facilities to the investors for import of plant and machinery required to set up an assembly and manufacturing unit, while the Brownfield awards facilitate the investors in the revival of sick or non-operational units.
The ADP aims to facilitate higher volume, more investment, enhanced completion and better quality with latest technology. It also aims at creating a balance between industrial growth and tariffs to ensure the sustainability of all stakeholders.
The policy helps in ensuring consumer welfare and providing policy consistency and predictability for investors and mid-term review to cater to emerging developments.
New investors coming under ADP shall also provide more options to the consumers in addition to the enhanced overall capacity of the country.