AGL 40.40 Increased By ▲ 0.20 (0.5%)
AIRLINK 129.25 Increased By ▲ 0.14 (0.11%)
BOP 6.81 Increased By ▲ 0.21 (3.18%)
CNERGY 4.13 Increased By ▲ 0.10 (2.48%)
DCL 8.73 Increased By ▲ 0.28 (3.31%)
DFML 41.40 Increased By ▲ 0.15 (0.36%)
DGKC 87.75 Increased By ▲ 0.75 (0.86%)
FCCL 33.85 Increased By ▲ 0.50 (1.5%)
FFBL 66.40 Increased By ▲ 0.50 (0.76%)
FFL 10.69 Increased By ▲ 0.15 (1.42%)
HUBC 113.51 Increased By ▲ 2.81 (2.54%)
HUMNL 15.65 Increased By ▲ 0.42 (2.76%)
KEL 4.87 Increased By ▲ 0.09 (1.88%)
KOSM 7.62 Decreased By ▼ -0.21 (-2.68%)
MLCF 43.10 Increased By ▲ 1.20 (2.86%)
NBP 61.50 Increased By ▲ 1.00 (1.65%)
OGDC 192.20 Increased By ▲ 9.40 (5.14%)
PAEL 27.05 Increased By ▲ 1.69 (6.66%)
PIBTL 7.26 Increased By ▲ 1.00 (15.97%)
PPL 150.50 Increased By ▲ 2.69 (1.82%)
PRL 24.96 Increased By ▲ 0.40 (1.63%)
PTC 16.25 Increased By ▲ 0.01 (0.06%)
SEARL 71.30 Increased By ▲ 0.80 (1.13%)
TELE 7.25 Decreased By ▼ -0.05 (-0.68%)
TOMCL 36.29 Decreased By ▼ -0.01 (-0.03%)
TPLP 8.05 Increased By ▲ 0.20 (2.55%)
TREET 16.30 Increased By ▲ 1.00 (6.54%)
TRG 51.56 Decreased By ▼ -0.14 (-0.27%)
UNITY 27.35 No Change ▼ 0.00 (0%)
WTL 1.27 Increased By ▲ 0.04 (3.25%)
BR100 9,967 Increased By 125.2 (1.27%)
BR30 30,751 Increased By 714.7 (2.38%)
KSE100 93,292 Increased By 771.2 (0.83%)
KSE30 29,017 Increased By 230.5 (0.8%)

The Pakistan Association of Automatic and Accessories Manufacturers (Paapam) has demanded a special package from the government to keep its units in production and meet the local and export demands.
Paapam Chairman, Malik Mohammad Aslam told Business Recorder here on Wednesday that the automotive and accessories industry was presently in crisis and several units faced shut down because of price hike and shortage of raw material.
He said prices of the raw material like MS sheets and coils had almost doubled whereas steel of Pakistan Steel Mills was also being black-marketed which had increased the industry's cost of production and products.
He said unless the government provided subsidy or makes the raw material available at the controlled rates, the auto industry could not sustain the accumulating losses.
Aslam said that the total number of auto-parts manufacturers has exceeded one thousand, providing jobs directly or indirectly to over 400,000 persons. He said the Paapam has under its wings more than 200 companies, manufacturing parts for Cars, Motorcycles, Tractors, Trucks and Buses assemblers. Investments in place, he added now exceed US $1.5 billion.
Aslam said the shortage of raw material and multiple price-hike is making it impossible for auto-part manufacturing units to meet their local and export orders which could cause heavy loss to the national exchequer and increase the unemployment.
He pointed out that the auto industry has by and large been developed through its own indigenous resources and some through technical tie-ups with well-known multinationals, both Japanese and Western. He suggested that the new elected government should have a meeting with the Paapam to discuss its problems as it is playing an active role for the promotion of Engineering Sector in Pakistan.

Copyright Business Recorder, 2008

Comments

Comments are closed.