Auto policy drew $800m investments: Ahsan
KARACHI: The Auto Development Policy (ADP) 2016-21 has attracted significant investments of over $800 million, said Minister for Interior, Planning, Development and Reforms, Ahsan Iqbal.
Addressing the unveiling ceremony of locally-assembled Daehan Shehzore pickup on Sunday, he said the government through the new policy is fully committed to extending full support to the local automotive industry.
He said the ADP has generated tremendous interest in Pakistan’s automobile market and is expected to promote healthy competition in the sector leading to increased choice for the customers.
Mr Iqbal said the safety and security situation all over the country, especially in Karachi, has improved tremendously in the last five years thus resulting in better economic indicators and bringing in new investments.
Chairman Kolao Group, Mr Oh Sei Young said that as the DewanFarooque Motors Ltd (DFML) assembly plant resumes production, the company aims to introduce other high-quality light commercial vehicles and SUVs in near future.
The company believes that under the China Pakistan Economic Corridor, infrastructural development across the country and economic activities will immense increase the demand for commercial vehicles for which DDMC is all geared-up.
Yousuf Dewan Companies had entered into a joint venture with the Kolao Group of South Korea in April 2016. The company had resumed production at its automobile assembly plant in Sujawal, Sindh. The factory, rated at 20,000 units per annum on double-shift basis, is equipped with a CED paint shop with painting robots, a technology that ensures complete rust protection and high-quality painting.
DFML received the Brownfield status in January this year from the Ministry of Industries and Production. This resulted in the revival of DFML automobile assembly plant which was not operational since 2010 due to the pull-out of its manufacturing partner from Pakistan. The revival has created hundreds of jobs at the assembly plant and many more at the vendor, supplier and dealership networks across Pakistan.
Published in Dawn, February 27th, 2018