Islamabad Chamber of Commerce and Industry (ICCI) Acting President, Shaban Khalid on Wednesday urged upon the government to provide relief to the auto industry by reducing interest rates on loans. According to ICCI press release, Khalid said that auto-sector was providing employment to over 0.4 million people of the country and it has potential to help boost economy of the country.
He said that many factors including high interest rates were affecting the industry adding that government should come up with a rescue package for auto industry to save it from further decline.
He was of the view that Pakistan's automotive sector had recorded impressive growth over the past few years, however, added that alarming decline in demand of cars was witnessed due to recent recession. He said that auto sector was considered as major driver of economic growth in world markets adding that there was immediate need of remedial measures to save the industry.
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