Govt taking concrete measures to improve local industry’s production

Govt taking concrete measures to improve local industry’s production

ISLAMABAD: Minister for Industries and Production Ghulam Murtaza Khan Jatoi on Friday said that the present government has provided various incentives to local industry aiming to improve international competitiveness and local productivity during the last four years.

Speaking in the Senate Session during question hour, he said that the ministry has taken many initiatives through its organizations including announcement of Automotive Development Policy (ADP 2016-21) to attract investment in Greenfield for installation of new automotive plants and Brownfield investments for revival of closed down units.

He said that new Entrant Policy for Motorcycle industry to promote investments with new technologies including Small & Medium Enterprises Development Authority (SMEDA), access to finance, youth development initiatives, direct taxes, indirect taxes, export promotion, customs, industrial development, textile package, incentives for industry under Strategic Trade Policy Framework (STPF 2015-18).

Replying to question, he informed the Upper House that SMEDA was helping the people for establishment of industries in the country.

He said that SMEDA helps those people who want to establish their industries.

The minister said that about five international companies were ready to establish their industries in Pakistan including four companies from China and one from Europe, adding that "we welcome all those companies who were ready to establish their industries in the country."

The production of auto industry has been increased and the vehicles were being provided according to demand of the market, he added.

The price of vehicles having power under 1500 cc were more as compare to India, he said and suggested for introducing of a new policy so that prices of new vehicles could be decreased. (APP)