AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

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.