Since the new Automobile Policy presented by Government earlier last year, many companies have laid eyes on the industry to set up their production plants in Pakistan. This new policy allows many benefits to the new player in the market in terms of reduced taxes and low import cost of parts.
Fast forward to today the new policy has surely paid off. The agreement between Nishat Motor and Hyundai Motor Company (Korea) signed earlier in 2017 turns out to be a success as Hyundai Nishat Motor’s new production plant is set to be inaugurated on 20th December 2017 in Faisalabad; marking a new era in the history of the automobile industry in Pakistan. The company revealed the plans during the filing at Karachi stock exchange.
As of now, Hyundai Nishat plans to produce a small passenger car along with a 1-ton commercial vehicle. Whereas more vehicle will be added to the fleet later on. Sources suggest that investment will range from 400-500 million dollars.
Let’s hope that we get some great cars soon and break the current monotony of our auto industry.
Government auto policy is crap and failed to protect consumer’s interest and the free market economy.
Still new entry of Korean auto makers is a good news indeed.
“The company has planned a groundbreaking ceremony on Dec 20 at M-3 Industrial City, Faisalabad.
Senior officials of Nishat Mills said the production of vehicles would start within two years. However, they did not give any details about the investment size and names of vehicles that would be built in Pakistan.
Published in Dawn, December 16th, 2017”
Please do not spread false rumors…..it is a “ground breaking ceremony and the Hyundai cars would come after two years…….
They should offer some of their worldwide successful models as CBU or CKD in these two years. It will help them to find out market trend and need.
here you are, cherry picking in the only effort govt has made, you must have some serious issues or you must watching too much tv
Actually that case is having lack of info & not reading even a single word what’s published in a Govt. document.
Yes, you are right. It’s pile of garbage and I didn’t read it.
We need auto policy of Mr. Ford in this country. Can’t believe it was rolled out back in early 1900s and we Pakistanis are bunch of dumbz to understand it even in 2017.
Everything government touches, it Fuxks it all up.
Get government out of auto industry. Let manufacturers build the cars, let importers import the cars and let consumers decide what is best for them in a free market economy.
Government that governs the least governs the best.
JIT sb.
Ye pagal loag government aur indus/atlas ke tattoo hain.
consumer ko na kuch mila na hi mile ga is auto policy mein. 15000 dollar ki civic 30000 dollar mein miltee hai yahan. New auto policy mubarak ho.
Every car manufacturer shall come to Pakistan to avail this new Govt. incentive.
How is the government “in” the auto industry? They are only regulating the policies for the auto industry which they are constitutionally required to do and not just for the automobile sector. What perhaps you were trying to say was that there should be no regulation and whoever wants to import should import and whoever wants to manufacture should manufacture? Do you know what that means? People will go for imported / used / cheaper vehicles obviously. There will be no new investment in the sector – existing players will quit the market – millions of people associated in manufacturing and supporting the automobile supply chain will be jobless. Take up a course in Economics when you graduate from the high school.
@JIT. I dont think we will long enough to see your dreams come true.
Its a vicious circle, we vote and bring the same who have their personal agenda.
They think and live for their-self.
Wait and see what surprises these new entrants bring.
You are right .Govt. with extremely bad governess can not care for the legitimacy of consumers.
what about quality? just like that cars which are assembled in japan and korea or like ours.
Nishat Group had connection with corrupt political Party you cannot expect this is a good move for Pakistan? why Faisalabad chosen? well see after few years same state of Art plant in Sajawal KIA & HYUNDAI had wasted by Government of Pakistan now see what will happen with this? this seems to some political move to make black money white.
govt. keeps changing, we were able to buy freely from the imported segment, but its not the topic is it? this govt. finally brought kia and hyundai, soon few chinese brands also coming , we should be aware that we are not getting what we wanted since quite sometime now, lets move on from just criticizing the govt and widen your heart a bit
H_3 Cartels using government to kill free market competition and sell sub-standard unsafe products to consumers is not economics.
No job is worth creating if it empowers cartels and put people lives at risk while keep robbing consumer pockets by not having any choice to look elsewhere.
The current nexus of Toyota, Suzuki and Honda can be termed as a cartel and just to break that cartel new players are being encouraged to start operations which will also force the existing players to up their game. Without Hyundai, Kia and Renault even having set up their ‘shops’ how do you know their products are sub-standard or unsafe?