Pakistan Railways is going to buy locally-produced locomotive and carriage parts instead of importing them, according to Federal Minister for Railways, Sheikh Rasheed.
The minister made this statement on Monday while addressing the Gala Dinner of Pakistan Auto Parts Show (PAPS) 2019.
“With 70 million commuters, Pakistan Railway can be a huge market for auto parts makers,” he said.
He invited Pakistan Automotive Parts and Accessories Manufacturers (PAAPAM) to explore joint venture opportunities with railways and said, “Until and unless businessmen come forward, we cannot address economic challenges.”
Sharing his vision, Rasheed said that every member of the society and organization should step to the fore to deal with the issue of unemployment. “Auto industry has the potential of addressing unemployment issues,” he added.
He said that individuals and industries should step forward to eradicate the menace of unemployment and observed that the Auto industry has the potential of addressing this issue.
Speaking on occasion, Chairman PAAPAM Ashraf Sheikh said,
Pakistan Railways used to be a big customer for the auto parts makers, and a lot of members grew in size with the growth of railways in procuring auto parts locally; however, the situation changed with railways increased reliance on import of parts.
Sheikh seconded his words and underscored the need for a healthy localization plan in the shape of an auto parts development policy for import substitution.
He added that the joint ventures of PAAPAM members with international companies had become a need of the time.