ISLAMABAD – April 22 (ONLINE) Federal Minister Syed Murtaza Mehmood said Friday country’s auto-industry will mark immense progress through new auto-policy.
According to details, CEO Engineering Development Board on Friday briefed the federal minister on auto-industry’s performance and yield.
Minister was told through briefing that 92 percent of tractors, 95 percent motorbikes, and 55 percent of cars have been localized in Pakistan. Seven new auto-companies installed their plants in Pakistan according to the 2016-21 auto policy.
Federal Minister was told that value-addition will be increased to 30 percent as per the 2021-26 auto-policy. New auto policy focuses on exports and promotion of electric vehicles. Four billion rupees have been returned to the consumers for late delivery of their cars, the briefing added.
Makhdoom Murtaza Mehmood was briefed that 215000 cars were built in Pakistan last year. The minister said auto sector will have to increase usage and production of eco-friendly vehicles.
Follow the PNI Facebook page for the latest news and updates.
