According to Pakistan Economy news, several sectors have highlighted their hope from the new fiscal year, as various industries prepare to welcome the new budget. Among them is the auto sector, which is waiting for favourable policies from the government.
The Pakistan Association of Auto Parts and Accessories Manufacturers (Paapam) has shared its proposal, assessing that the country’s auto market has a lot of room for expansion. This was stated in the ‘Paapam Trade Policy Inputs’ proposal presented to Federal Commerce Minister Khurram Dastgir Khan.
According to Paapam’s analysis, the growth of this industry has not materialised as the local industry production is still hovering around 150,000 vehicles per year.
According to the report, the import of used cars is the largest impediment for new entrants.