LAHORE, Oct 6: The Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) has welcomed the Economic Coordination Committee (ECC) decision to gradually bring down tariff regime for the motorcycle industry in such a way that local industry would not be adversely affected.

The decision would go a long way in stimulating the growth of the domestic industry and a flagging economy, said newly-elected PAAPAM Chairman Munir Bana and Vice-Chairman Usman Malik in a statement on Saturday.

They agreed with Federal Minister for Finance and Economic Affairs Dr Abdul Hafeez Shaikh’s observations that in the whole process it must be ensured that the local motorcycle industry is not affected and that a level playing field is provided to all stakeholders.