New Auto Policy Set for Cabinet Approval in Pakistan Within Two Weeks

ISLAMABAD: The proposed new auto policy in Pakistan is anticipated to receive Cabinet approval within the next two weeks, according to the Senate Standing Committee on Industries and Production. The committee, chaired by Senator Saleem Mandviwalla, convened to address the delays in finalizing the policy and its implications for consumers, local manufacturing, investment, and employment.

During the meeting, Senator Mandviwalla emphasized the urgency of finalizing the policy, highlighting its potential to stimulate the automotive sector and enhance consumer choices. The delay has raised concerns among stakeholders regarding its impact on the local market and the overall economy.

The approval of this policy is expected to have significant ramifications for the automotive industry in Pakistan, potentially leading to increased local production, job creation, and a boost in foreign investment. Analysts suggest that a well-structured auto policy could enhance competition and lower vehicle prices for consumers.

Looking ahead, the committee plans to reconvene to discuss any remaining issues before the policy is presented to the Cabinet. Stakeholders are keenly awaiting the finalization of the policy, which is seen as a critical step towards revitalizing the automotive sector in the country.