Car manufacturers seek clarity on incentives for new entrants
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Official says AIDC meeting’s minutes indicates govt is favouring a manufacturer
Official says a new entrant is selling and booking vehicles without having a plant in Pakistan
LAHORE: Car manufacturers have asked the Engineering Development Board (EDB) to specify the cut of dates for them to seek benefits under the Auto Development Policy (ADP) 2016-21 being offered to new entrants, reported The News.
The Pakistan Automotive Manufacturers Association (PAMA) have sought clarity on the dates in a letter written to the EDB on February 8.
The official, who told the publication about the letter, said that the Auto Industry Development Committee’s (AIDC) 34th meeting’s minutes indicated that the government is giving favour to an unidentified manufacturer.
Automakers demand clarity on incentives for new entrants
Business
February 10, 2021
LAHORE: Carmakers have asked the Engineering Development Board (EDB) to be specific about the cut off dates for availing incentives that Auto Development Policy (ADP) 2016-21 offers to the new entrants, an official said on Tuesday.
Pakistan Automotive Manufacturers Association (PAMA) demanded clarity on those dates in a letter to the EDB, dated February 8, 2021.
The official said apparently, in the light of the Auto Industry Development Committee’s (AIDC) 34th meeting’s minutes, the government seemed to give some favour to some player.
“Currently, one new entrant is selling and booking its vehicles without establishing a plant, while under the policy every new entrant is allowed to bring 100 CBUs for the product development and marketing,” the official said.
The Automotive Development Policy (ADP) 2016-21 has had a major role in radically changing the complexion of the Pakistani automotive sector in the past 3
EXIM Bank of Pakistan to Commence Operations by June 2021
The EXIM Bank of Pakistan will become operational by June 2021.
Sources told Propakistani here on Thursday that the CEO EXIM Bank of Pakistan disclosed this during the 34th meeting of the Auto Industry Development Committee held last month at the Board of Investment.
The agenda of the meeting was the support for export of vehicles, parts and components-EXIM Bank.
During the meeting, CEO EXIM Bank of Pakistan said that their bank will be operational by June 2021. Currently, the bank is hiring, RFP for headquarters is submitted and resources are being arranged. Their first priority is to make the bank operational. He said that the EXIM bank is different than commercial banks.