ISLAMABAD – The new Auto-Policy would help facilitate the provision of affordable small cars (850 cc-1000 cc), promote localisation in domestically assembled cars, produce exportable surplus of auto-parts of 2-3 wheelers and increase the competition in the local market so that people in Pakistan could enjoy better technology at affordable prices. Federal Minister for Finance and Revenue, Shaukat Fayyaz Ahmed Tarin, chaired a meeting here at the Finance Division to review and finalise the new Auto-Policy. Federal Minister for Industries and Production Makhdum Khusro Bakhtyar, Adviser to PM on Commerce Abdul Razak Dawood and SAPM on Finance and Revenue Dr Waqar Masood also participated in the meeting along with senior officials from Industries and Production, Commerce and FBR.
The minister for Industries and Production briefed the meeting that the aim to introduce a new policy is to provide affordable small cars (850 cc-1000 cc), promote localisation in domestically assembled cars, produce exportable surplus of auto-parts of 2-3 wheelers and increase the competition in the local market so that people in Pakistan could enjoy better technology at affordable prices. The minister also discussed various concessions that could be offered to the electric vehicles to increase the number of vehicles imported and install the related infrastructure in Pakistan.
Other pending issues like the payment of ACD by the Auto-sector to the government also came under discussion. The Industry representatives agreed to resolve the issue amicably for its final settlement. The finance minister assured of his full support for the final launch of the New-Auto Policy.
Meeting on Covid 19 vaccines
Federal Minister for Finance and Revenue, Shaukat Fayyaz Ahmed Tarin, held a special meeting with the Minister for Planning, Development and Special Initiatives Asad Umar and Federal Minister for Economic Affairs Division Omar Ayub Khan along with Special Assistant to the Prime Minister on National Health Services, Regulations and Coordination Dr Faisal Sultan to review the Covid-19 Vaccine availability situation in the country.
Minister Planning, in his position as Chairman NCOC, briefed the meeting that the NCOC forum reviews the situation on weekly basis and makes all possible efforts in collaboration with the relevant stake holders that the vaccine supply chain is not disrupted. He said that almost every country is securing its supplies in advance which build a pressure to make immediate payments. The finance minister was also briefed by EAD on the availability of credit lines with our development partners for vaccine procurement.
The finance minister said that providing safety to our citizens through the timely vaccine procurement is foremost priority of the government. He directed EAD to start the process of availing the credit lines with our development partners for ensuring timely payments to the vendors as no compromise will be made on the health of the Pakistanis. The finance minister also directed the finance division to ensure timely disbursement of funds as per supplies schedules.