Pakistan invited Renault for its production in the country, Renault has accepted its invitation and-and announced putting together Renault cars in Pakistan by 2018. This news was confirmed by the Board of Investment (BoI).
The representatives of Renault were met by Ishaq Dar. All the questions and queries related to import and export were discussed. Pakistan has is planning to expand the car manufacturing business here.
Renault has also some attraction in Pakistan because due to huge buyers base in Pakistan and to import tax-free manufacturer equipment as well. Less tax will be paid on the transfer of parts and the assembling will start soon in 2018. This will attract more new entries into the automobile industry in Pakistan. Lots of vehicle businesses will come to Pakistan when this is approved by the Prime Minster. Mr Ishaq Dar will devise a policy related to this and the Chairman Board of Investment (BoI) Miftah Ismail will also be included in it. They have also met the reps of other well know vehicles like Volkswagen and Peugeot and Nissan.
The said that “We want increased competition and greater consumers in Pakistan. Therefore this revolution has been started in Pakistan with the arrival of Renault. The other companies will also consider this invitation from Pakistan as soon as possible.
Jonathan Adashek who is the Chief Public Spokesman of Nissan had said that “Pakistan market is recently showing a lot of interest in Nissan right now, but we will make our decision final soon about it”. The investment will open new doors for other investors and the industry will expand. The consumer will feel better in Pakistan. The Economic Coordination Panel recommended this after reviewing the vehicle Policy, the finance minister was leading this team.
Several conferences and get-togethers were also held between the stakeholders. These meetings are crucial in helping solve all the issues and answering all the queries.