Punjab’s Minister for Industries and Commerce, Mian Aslam Iqbal, recently told the media that the provincial government will build an Auto Parts Technology Park on nine acres of land in the Quaid-e-Azam Business Park in Sheikhupura.
Minister Iqbal made the announcement while presiding over a meeting, the agenda of which was to review the performance of the Punjab Industrial Estates Development & Management Company (PIEDMC) and the overall progress of various developmental affairs.
He added that the technology park would consist of product designing, a training center, a parts manufacturing unit, testing, and other facilities pertaining to auto parts development.
He further stated that the proper division of the industrial estates would catalyze economic growth, which is why the PIEDMC should focus on the colonization of the industrial zones.
The new policy has also encouraged a surplus of auto parts for two-wheeled and three-wheeled vehicles to facilitate the growth of the export market within the automotive industry.
The government is also focused on the encouragement of auto parts localization to enable Pakistan’s auto industry to eliminate issues like exponential price hikes and delivery delays.
Numerous analysts have commented that the government should focus on offering incentives to the large auto parts manufacturers from around the world to encourage them to set up shop in Pakistan to aid the growth of its automotive industry. The government seems to be heeding these suggestions but the proper incentivization for the auto parts industry is yet to be seen.