The Auto Market is Likely To Remain Subdued With Expected decline in Sale of 8 to 10%

 

Mr. Abdul Jabbar Khan, an enthusiastic visitor with keen interest in weapons and defense technology, expressed his surprise at the display. I am over the moon that our local industry can produce such advanced weapon parts.

The event also witnessed the presence of several youths and children who were mesmerized by defense related exhibits and eagerly collected brochures and pamphlets. Speaking to The Express Tribune, local industrialists highlighted their significant contributions to Pakistan's defense industry. Akbar Alana, a local industrialist and group director, highlighted their role in supplying defense items to Pakistan Ordnance Factories and exporting them to various countries including France, Belgium, Germany, Switzerland and Spain. is worth 6 to 7 million dollars

We have nearly 70 years of precision engineering and manufacturing experience in the automotive aerospace energy oil and gas lighting health tech and agritech space. He emphasized his commitment to expand his business in Pakistan by highlighting his impressive exports to countries like Germany, Russia and United Arab Emirates.

Motorcycles remain accessible to the middle-class and lower-middle-class population, offering an economical transportation option during tough economic times. However, industry representatives expressed their concerns over the heavy tax levied on locally manufactured cars, which is between 37% and 43%. He stressed that this treatment is a hindrance to the growth of the auto industry. Chairman of Pakistan Association of Automotive Parts and Accessories Manufacturers Mr Abdul Rahman Aizaz raised this issue at the inauguration of Pakistan Auto Show 2023.

He pointed out that 300 companies in Pakistan are producing thousands of components for the country's car manufacturers, contributing significantly to employment and industrial production, although localization of low-tech and some high-tech components has been successful in overcoming this. Challenges include low volume non-tariff barriers and reluctance of international companies to transfer technology While advocating for tripartite joint ventures between manufacturers, he emphasized the need to increase per capita consumption of cars in Pakistan. and make Pakistan the producer of the cheapest tractors in the world