Chaoyang Long March Tyre intends to increase tyre manufacturing at its Pakistani plant in order to increase yearly exports in the category to $200 million.
A delegation of Service Long March Tyres (Private) Limited and China’s Chaoyang Long March Tyre under the leadership of Chairman Li Qingwen met Prime Minister Shahbaz Sharif in Islamabad today.
The prime minister welcomed the delegation’s investment in Pakistan through a giant venture with a well-known Pakistani company in the tyre industry.
PM Shehbaz was informed that tyres manufactured at the Chinese company’s plant in Pakistan are being sold across international markets. It was also communicated that the company will increase tyre production in Pakistan and take annual exports in this category to $200 million.
The prime minister directed that any necessary support be made available to the Chinese investors for the improvement of the tyre industry in Pakistan. He further instructed the relevant authorities to ensure the prevention of tyre smuggling. A comprehensive policy should be presented soon to stop the smuggling of tyres and spare parts, he added.
Special Assistant to the PM on Revenue Tariq Pasha and other government officials also participated in the meeting.
