New auto policy to drive localization, lower car prices: Haroon
ISLAMABAD: Special Assistant to the Prime Minister (SAPM) on Industries and Production, Haroon Akhtar Khan, on Tuesday, met with a delegation of auto parts manufacturers to discuss the forthcoming auto policy and measures for strengthening the local industry.
The meeting was attended by Secretary Industries and Production Saif Anjum and CEO of the Engineering Development Board (EDB) Hammad Mansoor, along with other relevant stakeholders, a news release said.
During the meeting, detailed deliberations were held on the new auto policy, with a strong emphasis on the localization of auto parts manufacturing.
Haroon stated that promoting the local production of auto parts remained the core objective of the government’s auto policy.
Secretary Industries and Production Saif Anjum informed participants that the ministry was in the process of compiling a comprehensive list of auto parts that could be manufactured locally.
He further highlighted that, over the next five years, adequate protection would be provided to domestically produced parts to support the growth of the local industry.
Haroon underscored that the new auto policy will be comprehensive and geared towards fostering the domestic automotive sector.
He reiterated that reducing vehicle prices through effective policy measures remains a key priority of the government.
The meeting also discussed proposals to introduce special incentives for electric vehicle (EV) parts manufacturing.
The Secretary of Industry noted that these incentives were currently under consideration to encourage investment in emerging technologies.
Emphasizing the need for modernization, the SAPM urged auto parts manufacturers to transition towards electric vehicle technology to remain competitive in the evolving global market.
He further stated that, under the leadership of Prime Minister Shehbaz Sharif, the new auto policy will significantly enhance local production and boost exports. He assured that the policy will be formulated through extensive consultation with all stakeholders. Haroon directed the EDB to engage with all relevant stakeholders to ensure an inclusive and effective policy framework. APP
