It plans to export 85% of tyre production
Nasser stressed the need to increase tyre manufacturing units if the government wanted the end-consumers to truly benefit. PHOTO: REUTERS
KARACHI:
Service Global Footwear Limited (SGFL) - a leading exporter of footwear - has entered into a joint venture with Chinese firms to establish a tyre manufacturing plant for buses and trucks with the aim of exporting a majority of the merchandise.
The new production facility is being established in Pakistan at a time when the US and European Union (EU) have imposed anti-dumping and countervailing duties on tyres made in China.
The development may help the joint venture win export orders from Western markets as the grant of tax exemptions to the company will keep its cost of production comparatively low.