ISLAMABAD: Various foreign investors have shown their interest in investing in the auto sector under the the new development auto policy (ADP) 2016-2021 announced last year.

In a meeting held under the joint chairmanship of Secretary, Ministry of Industries and Production (MoIP), Khizar Hayat Gondal, and Secretary, Board of Investment (BoI), Azher Ali Choudhry, Mr Gondol said the Category-A Greenfield investment status has recently been granted to four auto investors to Nishat Motor Pvt Ltd, Kia Lucky Motors Pakistan Ltd, Regal Automobiles Industries Ltd, and United Motors Pvt Ltd.

He said the companies awarded with green field status would be required to enter into ‘agreement’ with the ministry to ensure compliance to the conditions of the ADP 2016-21 relevant SRO’s and various timelines for completion of the projects for availing incentives under the said policy.

Once the agreement is signed between the investors and the ministry, the concerned auto sector investors would be available for signing and countersigning of all concerned by July 17, Gondal said.

The meeting was attended by various auto companies the senior joint secretary and other officers of the industries and production ministry, BoI and EDB.

Published in Dawn, July 13th, 2017