Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) is striving to increase exports related to auto products to $5 billion. This was stated by Muhammad Mashood Ali Khan Senior Vice Chairman PAAPAM at a soft launch of upcoming Pakistan Auto Parts Show (PAPS) 2017 held at local hotel here. The PAPS 2017 is being organised at Karachi Expo Center from March 3 to March 5, 2017.
In his keynote address, Mashood said that PAPS exhibition, which had been organising since 1995, was aimed at developing auto sector besides promoting exports and transfer of technology. "This is also an opportunity for fresh graduates to get inducted in different auto sector industries."
He apprised that PAAPAM had also given assistance to the government to avoid potential hazards in the process of formulating auto policy, adding that despite having strong temptation from used car mafia to extend three years old condition to five years for the import of second-hand cars, the government remained the said condition unchanged in its auto policy 2016-21 following PAAPAM's resistance.
Besides that PAAPAM has also opposed new entrant incentives to briefcase assemblers under contract assembly; duty concession to new entrant under Medium Knock Down (MKD) assembly and reduction of CKD duty rate to 10 per cent, he said; adding that association had also recommended the government to issue Standard Operating Procedure (SOP) for annual revision for the policy related to imported cars.
Mashood further said that they were also working to avert the menace of misdeclaration and under invoicing and claimed that reduction in the rate of sales tax from 17 per cent to 5 per cent for tractor industry was made with the efforts of PAAPAM. Talking about the upcoming challenges for PAAPAM's members, he said that Free Trade Agreement (FTA) with Turkey, Thailand and India and continuous monitoring of the measures taken by the government for imported car were some of the major challenges for them.
He further said that delegation of PAAPAM had made special visits to various countries including US, Germany, China, Turkey, Korea and Italy to carry out road shows for inviting potential exhibitors to participate in the PAPS 2017 and added that around 50 per cent space for PAPS 2017 had been sold to local and foreign companies on the first booking day started from July 15, 2016. He hoped that PAPS 2017 would attract assemblers, auto parts manufacturers, allied industries, automobile financing companies, raw material suppliers, engineering experts and regulators. A large number of PAAPAM members attended the soft launch of PAPS 2017 and showed interest in this upcoming event.
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