Renault To Start Assembling Cars In Pakistan By 2018
Sumaira FH Published November 03, 2016 | 04:30 PM
ISLAMABAD, Nov 3 (UrduPoint / Pakistan Point News - 03rd Nov, 2016 ) : Renault, a French car manufacturing company, would start assembling cars in Pakistan by 2018. As the result of Finance Minister Mohammad Ishaq Dar's hectic efforts and persuasion, Renault has decided to invest in Pakistan, This is another feather in the cap of Prime Minister Muhammad Nawaz Sharif's economic policy and vision, a statement issued here by board of Investment (BOI) here on Thursday said.
After approval of the policy Dr. Miftah Ismail made number of meetings and efforts to attract investment in auto sector. He met stakeholders of the sector in Pakistan and also visited abroad to lure in foreign companies in the auto sector.
He met foreign companies like Volkas Wagon, Peugeot, Renault and Nissan. During the Eid-ul-Azha holidays, finance minister himself and Dr. Miftah Ismail visited France and met the top leadership of Renault.
The Economic Coordination Committee of the Cabinet headed by finance minister constituted a committee to review the Auto Policy and recommend new measures for expansion, investment and consumer protection in auto sector of Pakistan.
The committee was headed by Khawaja Muhammad Asif, Minister for Water and Power and included Dr. Miftah Ismail, Minister of State/Chairman Board of Investment. The committee held several meetings and interacted with all stakeholders and under the guidance of Khawaja Muhammad Asif came up with new policy package to attract Greenfield investment as well as revive the existing closed auto units in the country.
The engineering side draft of the policy was prepared by Engineering Development Board whereas Dr. Miftah Ismail prepared financial part of the policy.
Related Topics
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 19 April 2024
Today Gold Rate in Pakistan 19 April 2024
Rock-solid Ruud racks up season-leading win in Barcelona
At UN, Iran says it will make Israel 'regret' reprisals
G7 hears calls for 'critical' Ukraine aid
EU seeks to leverage might to confront China, US challenge
5 Customs officials martyred as their vehicle ambushed by terrorists in D I Khan
Pak-New Zealand match called off due to rain
NHA restores traffic on roads affected by recent rains in Balochistan
China to fully support Pakistan's efforts against terrorism: Ambassador Jiang
U.S. envoy calls on Foreign Minister Ishaq Dar
Poland arrests man over suspected plan to kill Zelensky
More Stories From Business
-
Exchange rates for currency notes
2 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 19 April 2024
2 hours ago -
Foreign exchange rates
2 hours ago -
Today Gold Rate in Pakistan 19 April 2024
3 hours ago -
Oil jumps more than 3% on Middle East worries
3 hours ago -
Tokyo's Nikkei index tumbles 3% in morning trade
3 hours ago
-
Pakistan's total liquid foreign reserves reach $ 13.37 billion
13 hours ago -
Stock markets rise as traders consider US rate outlook
14 hours ago -
Business community alarmed by alleged Cigarette tax violations
15 hours ago -
High FED on cigarettes demonstrates positive impact
15 hours ago -
PTCL posts 14 % revenue growth
14 hours ago -
Prudent policies, reforms poised to result in sustainable economic growth: Governor State Bank of Pa ..
15 hours ago