May 14, 2003	Wednesday	Rabi-ul-Awwal 11, 1424

ISLAMABAD May 13: Federal Minister of Industries and Production Liaquat Jatoi has assured the automotive industries that the government will be taking strict action against smuggling, dumping and under-invoicing as such practices adversely impact the economy of the country.

The minister visited the Auto Xpo 2003 on Tuesday, the second day of the exhibition, organized by Pakistan Automobile Manufacturers Association (PAMA) and Pakistan Automotive Parts and Accessories Manufactures (PAPAM).

Mr Jatoi also made it clear that the government had no intention to allow import of reconditioned cars, since such a step would have no benefit for the people of Pakistan.

“If we allow this to happen, our industry will be destroyed and industries in other countries will benefit, job opportunities will be created there at the cost of our people,” he said.

The minister said that the government was following an investment-friendly policy as this would lead to an economic environment that would create jobs. of people.

He appreciated the fact that the automotive industry had acquired enough technological expertise and was now exhibiting its products not only in Pakistan but also abroad.

He said achieving almost 70% deletion in the automotive sector was a great success and hoped that Pakistani products will be able to attract more international buyers when an exhibition will be held in Bahrain in September.

Mr Jatoi said that Pakistan’s economy was at a take-off stage and it was necessary to expand the manufacturing base so that “we could build on the economic successes of the last few years.”

The star attraction for most of the visitors was a completely knocked down car displayed to show how many auto parts of Pakistan origin now make part of vehicles produced in the country. Today the automotive industry is creating $700 million of import substitution; revenues for the government from the sector has touched Rs30 billion and the industry employs more than 150,000 workers. The industry has played a major role in the growth of large-scale manufacturing.