Pakistan Automotive Manufacturers Association (PAMA) has rejected the impression that local players are responsible for delays in the processing of the cases of New Entrants under the new Auto Policy.
“The Board of investment shall be single point of contact for the investor with the government” is the mandatory position stated in the policy and we have no role to play in a matter that is entirely business of the government,” the spokesman added.
“We understand that all the potential new investors are expected to follow the Eligibility Criterion under the ADP 16 – 21 and fulfill the same in the prescribed manner. Earlier, many new players received government approval after they set up plants while the industry, sitting in the Auto Industry Development Committee, fully supported their cases. The allegations against local players do not hold any ground, therefore, are clearly a fabrication by the interested parties just to invite undue attention to their apparently half-baked cases,” the DG Said.
“However, there should be complete adherence to the policy and no deviation should be made for any specific company else the ADP will forfeit its purpose. Consistency and predictability of the policy is all that industry needs and it can only be ensured through complete adherence to the ADP,” he added.
PAMA has appreciated the Govt, BOI and MoI’s efforts to attract new investment in the auto sector and has termed the newly approved Auto Policy a catalyst for attracting new entrants.
In a statement released on Thursday, DG PAMA said, “We have participated since the new policy was being formulated and have always supported entry of new investment in the auto sector as it would help increase the market size, increase the choice to customers and, above all expansion and growth would benefit everybody.”