In a bid to achieve a higher ratio of localization of auto parts, Pakistan Railways have announced to provide full support to the local auto parts industry.
A majority of auto parts or the raw material to manufacture them is currently being imported from other countries which have put immense pressure on the economy. There is a need to produce auto parts locally in order to stabilize and bring equilibrium to the prevailing economic crisis. In this regard, the Minister of Railways Sheikh Rasheed Ahmad has offered to facilitate the local auto parts industry in producing these parts locally. He was present at the Gala Dinner of Pakistan Auto Parts Show (PAPS) 2019 which continued for three days from 12th-14th April. At this occasion, he said that Pakistan Railways could become a massive market for the auto parts manufacturers. He also wants to discover more opportunities in the auto sector through a partnership with the Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM). He further stated that the business community needs to take charge in order to address prevailing economic challenges in Pakistan.
On this occasion, the Chairman of PAAPAM Muhammad Ashraf Shaikh said that Pakistan Railways was previously one of the biggest customers of auto parts manufactured in Pakistan. The situation has now entirely changed as Pakistan Railways imports these parts. He further urged the government to devise an incentive-based localization plan for the auto parts industry along the lines of Automotive Development Policy (ADP) 2016-21.
Former Chairman of PAAPAM, Mashood Ali Khan highlighted that the cooperation of Railways Minister in promoting the local auto parts industry would go a long way in the development of the sector to the desired level of production capacity.
Pakistan Auto Parts Show 2019 was a hugely successful event with a number of international exhibitors, auto parts manufacturers and leading automakers taking part to showcase their products and upcoming cars. PAPS has now become the largest automotive event in Pakistan.
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