LAHORE, July 19: Auto industry needed a long-term and consistent auto policy to achieve the vision of 500,000 units by year 2011.

This was stated by Honda Atlas Cars (Pakistan) chairman Yusuf Shirazi while launching the new leisure vehicle Honda CR-V here on Saturday. He said that a long-term policy was necessary since engineering was the springboard of industrial development.

He said the political and economic scene had undergone radical change affecting the overall economic environment. The country was facing a lot of challenges but had a viable economy.

Honda believed in localisation of investment, production and export for higher GDP growth and employment for poverty alleviation.

The company’s president Atsushi Yamazaki and general manager marketing and planning explained the salient features of the new vehicle.