Master Motors granted Greenfield status

ISLAMABAD: Another automobile company is set to enter the fray, as Master Motors has been granted Greenfield status by the Ministry of Industries and Production (MIP).

Under the Automotive Development Policy 2016-2021, Master Motors has become the 8^th company to be granted Greenfield status, as the country’s automobile sector keeps its pace with the growing demand of consumers and investors eye Pakistan as a key market, reported Business Recorder.

MIP following guidelines issued under the ADP 2016-2021 has granted category-A Greenfield investment status to Master Motors.

Master Motors is said to have signed an exclusive agreement with a Chinese automobile company Chongqing Changan Automobile Limited in this regard and the granting of Greenfield investment status to it by MIP gives it an opportunity to enter the growing automobile sector of the country.

Also, sources shared Additional Secretary In-Charge MIP, Mian Asad Haya-ud-din has handed over a dispute between Foton Motors and Master Motors which is real as both entities have come forward saying both are manufacturing the same vehicle but only one is being provided tariff concessions.

And the source revealed that the MIP in its previous meeting had extended invitation to head of Military Vehicles Research and Development Establishment (MVDRE), Major General Moazzam Ali to overlook the case and proceedings and sift through the documents and judge which company is assembling the actual product.

The meeting was also attended by CEO of Master Motors Limited and Hamid Rasool, Nadeem Malik represented Foton Motors.

A report published by Dawn in March had highlighted Master Motors about voicing 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 then said according privileged status to Foton JW Auto Park provided it with 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.