ISLAMABAD
The government has directed the four new players in the auto sector to formally sign their agreements to get the ‘Greenfield Status’ without any loss of time.
This direction was passed at a meeting with the prospective investors in the auto sector under the Auto Development Policy (ADP) 2016-21. The meeting was co- chaired by the Secretary Industries Khizar Hayat Gondal, and Secretary Board of Investment, Azhar Ali Chaudhry.
Four awardees of ‘Greenfield’ status were also present and they appreciated efforts of the government in finalizing investment proposals in record time. They were asked to prepare their agreements to be effected pursuant to the award of Greenfield status without any loss of time. All concerned, assured that these agreements will be finalized over the next week.
The other applicants for award of Greenfield status also participated and showed their level of preparedness. These included, Habib Rafiq Limited, Khalid Mushtaq Motors, Pak-China Motors, Foton JW Auto Park, Cavalier Automotive Corporation.
They were urged to meet the necessary coded requirements under the policy as early as possible; most of them expressed the resolve to present all necessary documentation by July end.
EDB was urged to expeditiously examine and put up these cases for approval as and when complete documentation is received. Next monthly meeting with investors will be convened in the second week of August.
