Pakistan's auto industry will attract 22.7 billion rupees
Pakistani auto industry is set to attract significant investment, with a projected inflow of 22.7 billion rupees over the next two years, according to Hashmi, chairman of the Pakistan Auto Parts Manufacturers Association. This development is expected to create job opportunities for around 350,000 people, boosting employment in the sector.
In the fiscal year 2002-2003, the auto industry contributed 270 billion rupees in tax and revenue to the government, highlighting its economic importance. The association anticipates a steady growth in the coming years, with projections reaching 33 billion rupees in 2003-2004 and further rising to 40 billion rupees in 2004-2005.
This positive trend reflects the growing confidence of investors in Pakistan's automotive sector, which has been gradually expanding through domestic production and increasing demand for vehicles. The government has also been working on policies to support local manufacturers and encourage foreign direct investment. With these developments, the auto industry is becoming a key driver of economic growth and industrial development in the country.
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