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Summary Parvaiz Elahi has said that upcoming industrial policy would be discussed with all stakeholders.
Deputy Prime Minister and Senior Minister of Industries, Ch Parvaiz Elahi has said that the all stakeholders would be taken on board over finalization of upcoming industrial policy.Addressing the gathering at the annual dinner of the Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM), he also assured that all political parties would be pursued to sign the non-amendable draft of industrial policy to ensure long-term investment in the country.Parvaiz Elahi said that government was focusing on implementation of long-term policies for the benefit of common man, while he also assured to resolve the issue of importing used cars by next week.He announced that Ministry of Industries had forwarded the summary to ECC, recommending some limitations to discourage the unrestrained imports of used cars.Referring to the challenge of trade with India, the chairman said that it was a welcome sign but the government would have to facilitate the business community to enable it to compete with a bigger economy, and government was endeavoring to strengthen the local industrial sector, in this regard.On the occasion PAAPAM’s newly elected chairman Munir Bana, apprised the Deputy Prime Minister of the challenges being faced by the auto engineering sector, and while appreciating the services of Parvaiz Elahi said that deputy PM had reduced general sales tax on tractors from 17 per cent to 5 per cent last year to revive the tractor industry and hundreds of allied vending units across the country.The outgoing chairman, Nabeel Hashmi, stressed the need for long-term policies, and that localization cannot be achieved until 0.5 million vehicles were produced, which needs level-playing field for investors.He also stressed that to achieve this goal all stakeholders including PAAPAM should also be consulted, and also resolved that long-term policies would pave way for acceleration of industrial activity in the country, ultimately giving boost to exports while alleviating poverty and unemployment.
