Summary Ministry of Industries and Productions has decided to review draft of new automobile policy.
ISLAMABAD (Online) - The Ministry of Industries and Productions has decided to review the draft of new automobile policy with regard to eliminate the monopoly of few companies in the sector.
Sources said, for the discrimination of few companies who have made their monopoly in the department of Automobile and to promote competitive environment in market, ministry of industry and production has started work on different recommendations.
Instead of planning long term targets in auto industry plan 2013-18, policy stresses 6 month to 1-year short-term target achieving goals and their vigilant monitoring.
Sources more said, strategic mistakes will be vanished in the draft of new policy, however no such advice of imposing restrictions on imported vehicles is under consideration.
Comprehensive recommendations will be made the part of new policy in regard to increase of production for vehicles manufacturing companies, to fulfill the demand of vehicles and to reduce the prices of vehicles.
Ministry has decided to take solid, comprehensive measures to make the amendments in the draft of its new automobile policy.
Final draft of new automobile policy will be presented in the meeting of Economic Coordination Committee (ECC) of the cabinet in next month November.
However final approval will be given by Federal Cabinet and after that new auto policy will be announced.
Other than that recommendations are also being prepared to reduce the duty and tax imposed on the import of spare parts.
The recommendations will be presented in a 5-member committee constituted under minister of water and power Khawaja Asif.
Sources said, due to shortage of energy resources in country, vehicles using less energy, friendly environment and less production cost will be manufactured.
The new automobile policy will set the clear direction for national automobile industry that will boost manufacturing industry and provide job opportunities to the masses.
