STAFF REPORT LHR: Automobile manufacturing is ‘Mother of all industries’; it is one of the most notable industry of the country, this was stated by Ali Asghar Jamali, Chief Operating Officer of Indus Motor Company (IMC).
Auto industry generates huge revenues for government and provides more than 3 million employment opportunities for individuals. It is an integrated long value chain that associated with several allied industries through broad localization.
Pakistan is manufacturing some of the models comprising almost 70% locally produced parts, which are made in accordance with premier global quality and safety standards. This is saving millions of dollars of foreign exchange.
Jamali said that despite political and economic challenges the auto industry has achieved remarkable achievements which are recognized globally. He further added, “Pakistan auto industry has enormous capabilities and have achieved challenging progress in past years, but still a lot more that industry can do in terms of economic growth and industrial development”.
Due to low per capita income, in Pakistan currently only 16 out of 1,000 people have access to a vehicle, while in contrast it is 18, 30, 69, 206, and 361 in India, Philippines, Indonesia, Thailand, and Malaysia respectively.
The population growth rate set to made Pakistan 4th largest population in the World by 2030 with 240 million people, this gives a huge growth potential for the mobility sector of Pakistan. Countries like Japan, Korea, Thailand, Malaysia, China, Indonesia, India and Vietnam present economic revitalizations and boost by way of having vivid industrial base particularly of automotive manufacturing.
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