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Mobile, auto exports seen fetching billions of dollars


Mobile, auto exports seen fetching billions of dollars
August 3, 2021
ISLAMABAD: The upcoming mobile phone manufacturing plants and expansion in the auto sector could fetch Pakistan billions of dollars in exports over the medium term.
It was stated by Chairman Board of Management of Engineering Development Board (EDB) and businessman Almas Hyder during a meeting with Prime Minister Imran Khan on Monday. The meeting was held to discuss ways to diversify exports.
“Engineering goods trade is the largest export sector in the world. It is 54 percent of the global trade which is equivalent to nearly $9 trillion,” Hyder said. “Pakistan is now in the phase of transforming. Engineering sector includes everything from steel bars to automobiles and from medical devices and surgical instruments to mobile phones.” ....

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Tarin sees production of affordable vehicles under new policy - Newspaper


ISLAMABAD: The draft Auto Industry Development and Export Policy (AIDEP) is aimed at promotion of auto industry in the country by increasing the production of cars, motorcycles, tractors at affordable rates, Minister for Finance and Revenue Shaukat Tarin said on Thursday.
While chairing a meeting to review the draft AIDEP 2021-26, he said that priority was to ensure consumer welfare through availability of cars at affordable rates for the middle and lower income groups, said a press release issued here.
He said that government had provided major relief to the consumers by reducing Sales tax on 850cc cars along with exemption from value-added tax in the federal budget 2021-22. ....

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Govt plans incentives for new entrants in electric vehicle push


Govt plans incentives for new entrants in electric vehicle push
July 30, 2021
ISLAMABAD: Pakistan is set to offer fresh incentives to firms planning investments in electric vehicles (EVs) production in the country in its new auto policy due next year, a government said on Thursday.
The country’s efforts to promote EVs to reduce its oil dependence and cut pollution have been stymied so far by a lack of investment and weak demand.
A new policy, however, has been under discussion to provide a more focused approach and incentives for carmakers and suppliers over a five-year period to drive large investment in the sector. Shaukat Tarin, finance minister underscored the importance of EVs and affirmed to provide incentives for developing EV market in Pakistan including EV charging infrastructure. ....

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