The three-day Pakistan Auto Show-2020 organized by the Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) began here at the Expo Centre on Friday.
Local and international companies manufacturing parts for buses, trucks, tractors and motorcycles have set up over 100 stalls to showcase their products at the exhibition which is supported by the Engineering Development Board and PakWheels.com. Major players including Honda, Suzuki, Hyundai and Millat Tractors have sponsored the event.
Engineering Development Board (EDB) Chairman Almas Hyder, President Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Mian Anjum Nisar and President of Lahore Chamber of Commerce and Industry (LCCI) Irfan Iqbal Sheikh jointly inaugurated the exhibition.
Speaking at the inaugural ceremony, the EDB chairman said, "The local automobile industry is a cornerstone of the national economy. It not only vitalizes the economy but plays an essential role in elevating Pakistan's image as a progressive country with a thriving industrial base. The government's strong commitment to this industry helps encourage large-scale investments and create a business-friendly environment for the automotive and engineering sectors."
He appreciated the local industrialists and engineers for achieving remarkable success in establishing a robust engineering sector, which is generating remarkable new opportunities for value-added exports.
FPCCI President Mian Anjum Nisar said the Pakistan Auto Show-2020 is a big step to highlight the potential of local industry. He said the auto industry is showing rapid growth and it could further grow provided the government gives incentives and introduces soft policies. Presently, all the sectors including the auto industry is suffering because of high mark-up rate. The economic situation can further be improved if the government reduces the mark-up rate, he added.
The Chairman of Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM) Capt Muhammad Akram (retd) stated that: People are passionate about seeing the latest revolutionary technologies being deployed in Pakistan. Some of the participants this year include global automobile brands, along with spare-parts manufacturers, component suppliers, Original Equipment Manufacturers (OEM vendors), automobile traders, investors, buyers and enthusiasts, who want to expand their business networks and gain more information about the innovations and products in this sector."
PAAPAM's former chairman Syed Nabeel Hashmi, who is also the chief organizer of the exhibition, said the auto show is setting new benchmarks and trends for the automotive industry in Pakistan. He claimed that the exhibition will attract over 100,000 local and 100 foreign visitors.
He urged the government to introduce long term policy for the auto industry.
Speaking on the occasion, PAAPAM Chairman Capt. (R) Muhammad Akram said that apart from spare-parts manufacturers, component suppliers, original equipment manufacturers (OEM vendors), automobile traders, investors and buyers, some international auto brands from manufacturers from Japan, Germany, France, Turkey, Thailand, Taiwan, USA and UAE are taking part in the exhibition.
LCCI President Irfan Iqbal Sheikh also spoke on the occasion.
Comments
Comments are closed.