ISLAMABAD: Minister for Parliamentary Affairs Azam Khan Swati Thursdayapprised the Senate that foreign automobile companies had started settingup their manufacturing units in the country and attracted over Rs 1300million investment so far.
Replying to various supplementary questions during Question Hour, theminister said the companies included Kia, Honda and Chinese. Thesecompanies would also manufacture heavy vehicles besides small ones, headded.
To another question, the minister said NUST signed the Memorandum ofUnderstanding with CIMA in 2013.
He said the MoU was signed to facilitate NUST students of BS Accounting andFinance Programme where students would be eligible for 09 exemptions forCIMA Qualification after completing certain semesters of NUST.
However, he said the students did not show significant interest in pursuingCIMA qualification. Moreover, CIMA reduced fee waivers for studentsgradually.
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He said in 2016, CIMA went under global restructuring resulting in bothcutting down of operations globally.
In Pakistan CIMA closed their office in Islamabad and now operating fromKarachi, he added.
He said keeping in view the lack of student interests and benefits it wassubsequently decided by NUST Business School not to renew MoU with CIMA.
