International Automobiles companies setup manufacturing units in Pakistan worth Rs 1300 millions
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ISLAMABAD: Minister for Parliamentary Affairs Azam Khan Swati Thursday apprised the Senate that foreign automobile companies had started setting up their manufacturing units in the country and attracted over Rs 1300 million investment so far.
Replying to various supplementary questions during Question Hour, the minister said the companies included Kia, Honda and Chinese. These companies would also manufacture heavy vehicles besides small ones, he added.
To another question, the minister said NUST signed the Memorandum of Understanding with CIMA in 2013.
He said the MoU was signed to facilitate NUST students of BS Accounting and Finance Programme where students would be eligible for 09 exemptions for CIMA Qualification after completing certain semesters of NUST.
However, he said the students did not show significant interest in pursuing CIMA qualification. Moreover, CIMA reduced fee waivers for students gradually.
He said in 2016, CIMA went under global restructuring resulting in both cutting down of operations globally.
In Pakistan CIMA closed their office in Islamabad and now operating from Karachi, he added.
He said keeping in view the lack of student interests and benefits it was subsequently decided by NUST Business School not to renew MoU with CIMA.
