Pakistanis might not see Renault vehicles in the country at all!


Update:

One of the most awaited brands in Pakistan, Renault, as per our credible source, is likely not coming to Pakistan.

According to the details, the French automaker, as of now has canceled its license(franchise) of Al-Futtaim to build its manufacturing plant in Pakistan, whereas, on the other hand, Al-Futtaim has put a hold on investment. While talking with PakWheels.com, a senior EDB official, said that Al-Futtaim has not officially intimidated to discontinue, however, it is highly likely that it will completely withdraw manufacturing plant.

Read Also: French delegation backs Renault’s entry in Pakistan

He further told us that it is happening due to economic instability in the country, i.e. rupee depreciating against the US Dollar; moreover, the project in the eyes of Renault is not feasible now, he added.

Previously:

Foreign Minister of Pakistan, Shah Mehmood Qureshi applauded the initiative taken by the French carmaker – Renault to manufacture cars in the country.

The company signed an agreement with Al-Futtaim to manufacture its cars in Pakistan, last year in November. Al-Futtaim Renault, Pakistan has also acquired land in Faisalabad for its assembly and manufacturing plant. As per the details, the design and the pre-engineering works are underway, and after completion, the manufacturing of the plant will begin. The joint venture is committed to producing 50,000 units per year and is investing the US $140 million in the local industry.

Shah Mehmood Qureshi, in a meeting with Ambassador France Marc Barety, said that other French companies should also take advantage of friendly investment policies and come to Pakistan. He also expressed his satisfaction over the two-way flow of investment.

The company was planning to establish the plant in Karachi, but, due to some problems with the authorities gave up the idea of setting up a plant in Sindh and moved to Punjab.


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  • AbdulB1

    That’s the reality of rupee depreciation

  • True…No Future

  • Kashif Akbar

    It shows the real picture of our economy.

  • Belal Shaykh

    Sad.

  • Sami

    Renault Plant was about to set up in Punjab. The current Punjabi and Punjab hater government is forcing all businessmen to either set up businesses in Karachi or anyone else except Punjab or else leave Pakistan.
    That is why investment projects in Karachi and car investments ( VW, Dewaan, Nissan, Kia) are going strong, whereas Hyundai and Renault ( both projects ) in Punjab are facing the problems.
    The people of Punjab should wake up. This government is brought to just make you weak enough to be a good slave and nothing else. Keep on voting the racist Imran Khan. You deserve it.

  • Belal Shaykh

    Any source about punjab forcing bussinessman to other province??

  • Muhammad Adil Muhammad Yaseen

    1 bohat hi pohanchi hui hasti ne kaha tha:
    Hamari humumat ayegi to investor bhagay bhagy ayengy, log kahengy hum apna pesa Pakistan main invest krna chahty hain
    Summary: 😂😂😂😂

  • Sami

    My question is simple that why government is not intervening to do something about it?. Why big industry is shutting down from Punjab and moving to Karachi?.
    I am a businessman myself and I know what is going on. It is now a Karachi vs Punjab thing at the higher level. Abdur Razzaq Dawood, FBR chairman, current finance minister and all top officials are now from Karachi.
    Imran Khan and Establishment dont trust Punjabi businessmen anymore. That is why Pushtuns ( Kasuris, Tareens and Khans) are promoted in Punjab and that is a fact.

  • TiredOfThisShit

    That is not true, unless you provide irrefutable proofs to back up your statements. Businesses go where they get higher profits and facilities for doing business. That is key to all business decisions.

  • AFZAL

    Where did you get your information from.

  • afzal4@hotmail.com

    It looks to my your just blowing hit air out of your backside, if not you would have given verify able evidence to your claims

  • Afzal

    Do give give verify able evidence, it is not enough to say l am business myself and l know what is going on.If Punjab government is forcing out business out of Punjab what evidence do you to prove your claims .

    Maybe you simply no nothing about business, any company that is considering to invest in Pakistan or Punjab for that matter, will make feasibility studies, due diligence, study market conditions before investing in Pakistan, Renault after making feasibility studies have decided that market conditions are not right for them to invest in Pakistan as they have cited foreign currency instability, GBP 180+ USD 150+ EURO 145+ exchange rates, for businesses to invest in Pakistan they are looking at economy stability and as well security stability, which is not the case as of now in Pakistan

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