Under the Auto Development Policy 2016-2021 (ADP), fifteen (15) new companies have been awarded the Greenfield status while two companies have been given Brownfield status for the revival of the automobile sector in the country.
According to an official source, the committed investment so far is more than $1,169 million.
The investors, which have been granted greenfield status, will manufacture cars, light commercial vehicles, SUVs and heavy commercial vehicles.
The companies awarded greenfield awards under ADP includes, Kia Lucky Motors Pakistan Ltd, Foton, JW Auto Park (Pvt) Ltd, Regal Auto Mobile Industries (Pvt), Sazgar Engineering works ltd, United Motors (Pvt) Ltd, Master Motors Ltd, Khalid Mushtaq Motors (Pvt) Ltd, Pak China Motors (Pvt) Limited, Hyundai Nishat Motors(Pvt) Ltd, Topsun Motors and Engineering Services (Pvt) Ltd, Al-Futtaim Automotive Pakistan (Pvt) Ltd, Khalid and Khalid Holdings (Ptv) Ltd and Hanteng Motors Company (Pvt) Ltd.
Under the Brownfield category, two closed down units have been revived namely Dewan Farooq Motors and Ghandhara Nissan Ltd.
The Greenfield award provides facilities to the investors for import of machinery and equipment for setting up an assembly and manufacturing plant, while the Brownfield awards facilitate the investors for the revival of sick or non-operational units.
ADP aims to facilitate high volume production, more investment, enhanced completion and better quality with the latest technology. It also aims at creating a balance between Industrial Growth and tariffs to ensure the sustainability of all stakeholders.
The policy helps ensure consumer welfare and provides consistency and predictability for investors and mid-term review to cater to emerging developments.
New investors coming under ADP shall also provide more options to the consumers in addition to enhancing the overall capacity of the country.