Pakistan's auto policy will bring an investment of $4 billion in the next five years, Industries and Production Minister Jahangir Tareen said. Most of this investment will be made by the vendors for capacity expansion to meet the target of 500,000 vehicles per annum by 2011-2012, he told the reporters. The minister said the government was focussing on the vital automobile sector. We wish to make this a major contributor to the GDP of Pakistan. Tareen said the government also wanted to ensure production of quality vehicle matching the production standards of Japan. For this reason a company will be in place by the next month to enhance skill training in the automobile sector, he noted. The minister said that auto industry development plan (AIDP) will be ready by March 31. Currently, Engineering Development Board was actively busy in finalizing the paper. This plan will offer incentives to the automobile sector for the export of auto parts. This will also have targets for the industry and encourage local production of higher value-added components of automobile, the minister said. Tareen said the auto industry has to expand production to meet local demand for cars and supply them to consumers without own money. If they cannot do it, the government will continue to allow import of vehicles so that consumer should not suffer.
