ISLAMABAD – Malaysian High Commissioner to Pakistan, Ikram MohammadIbrahim, said an agreement was inked by Proton and its local partner, AlHaj Automotive in 2018.
Pakistan’s Al-Haj group had entered into an agreement with Malaysia’sautomaker Proton Holdings to bring electric and other green vehicles inPakistan.
Proton felt that the potential for its cars in Pakistan is huge, which ledto its partnership with Alhaj Automotive to establish an assembly plantnear Karachi in Sindh province.
This agreement will bring a $200-300 million investment to Pakistan.
Al-Haj would bring modern and high-tech vehicles in various categorieswhich includes entry and mid-level sedans, crossovers/sports utilityvehicles, multi-purpose vehicle, and hatchbacks.
Proton which was set up in 1983 and holds a major share in the Malaysiancar industry and controls British sports car maker Lotus.
Malaysian Prime Minister Mahathir Mohamad and his Pakistani counterpartImran Khan are expected to witness the symbolic groundbreaking ceremony ofProton’s plant on Friday.
Read Top Stories
Dr. Mahathir will begin his three-day official visit to Pakistan today.
According to Ikram, the construction of the car plant was one ofthe important elements of bilateral trade and investment relationshipbetween the two countries as Proton was Dr. Mahathir’s brainchild duringhis first tenure as the Prime Minister.
Both leaders, he said, would also have an in-depth discussion on efforts toincrease trade relations between the two countries.
Pakistan is Malaysia’s third largest trading partner in South Asia. Ikramsaid Pakistan is Malaysia’s largest export market in South Asia and thethird largest import destination.
“In terms of bilateral trade, Malaysia is Pakistan’s 16th largest tradingpartner last year,” he said.
