While responding to the journalists during the inauguration of Makro-Habib in Karachi, Ali S. Habib, Chairman, Indus Motor Company (IMC), welcomed the initiative for starting a dialogue between the industry and the EDB to develop a long-term auto policy.
"The auto industry has previously expressed concerns on certain weaknesses in the Auto Industry Development Plan. This initiative of the government of Pakistan will be very helpful in starting a dialogue between the industry and the EDB to discuss these weaknesses so that a consensus can be reached and a long-term consistent policy can be developed", said the chairman. He stated that a long-term policy incorporating the industry's input could bring significant increase in investment and employment in the country.
The auto sector has witnessed substantial growth in the recent past. However, due to several factors, including the increase in interest rates and the uncertainty due to lack of a long-term policy, sales of cars has declined in recent months which is a cause of serious concern to the industry.
On a positive note, he said, "The industry hopes that jointly with EDB and the Ministry of Industries, a long-term policy would be developed that is fully in the national interest".-PR