ISLAMABAD – Adviser to Prime Minister on Commerce, Industry and InvestmentAbdul Razak Dawood hoped that shift of automobile manufacturing unit of ‘Proton’ cars from Malaysia to Pakistan would give turnaround the local autosector.
Now the new upcoming market players would not only enhance thecompetitiveness in local automobile market but also give the betteralternatives to local customers in terms of quality and rates for optingbetter option for sale and purchase of vehicle, he told APP here.
The adviser said Malaysian big automobile player ‘Proton” of ALHAJAutomotive had agreed to start manufacturing in Pakistan in next threeyears.
Razak Dawood said in the current global competitive environment in automobile sector, “We need to bring more competition in local automobilesector and also need to invite more global players for investment in thissector to connect with the global value chain.”
Replying to question, he said recently Malaysian car manufacturer Protondelivered X70 to Pakistan government as per promise made by the MalaysianPrime Minister Dr Mahathir Mohamad during his visit to Pakistan earlierthis year.
He informed that production activities of Proton cars in Pakistan werescheduled to begin in 2021 as plans were being formulated for assembly ofseveral models in the country.
He said this would assist the company in achieving its long term goals tosell 400,000 vehicles by 2027.
“The Proton cars observe a lot of potential in Pakistan and as Malaysia isthe only Muslim country to have its own automotive brand, both thecountries are natural partners who have so much to share with each other”,he said.
The Adviser said under a joint venture of the both sides, Protonmanufacturer would usher in a new era of auto manufacturing in the country.
“I see it as a beginning for more partnership between Pakistan and Malaysiain future”, he said.
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The adviser said the incumbent government always laid great emphasis oncreating an investment ecosystem for both foreign and local investors.
He said Pakistan offered attractive investment opportunities andsubstantial returns in various sector of economy.
He said the government was playing a significant role in facilitatingentrepreneur and ease of doing business and there was an enablingenvironment of investment in various sectors including InformationTechnology, financial services, engineering, goods and textiles.
The adviser said in consonance with the international best practices in carmanufacturing, the federal cabinet had recently approved an electricvehicle (EV) policy for Pakistan which was also a step towards achievingsustainable development.
Currently, trade between Pakistan and Malaysia was being regulated underMalaysia-Pakistan closer Economic Partnership Agreement encompassing goods,services and investment, he said.
The both countries are working on further extending the trade ties throughMalaysia Pakistan closer Economic Partnership Agreement Phase II.
He said the government of Pakistan encouraged the Malaysian investors tocome and invest in the country.
