Auto market seen doubling in next 5 years
July 8, 2021
KARACHI: Pakistan’s auto market demand is likely to double from 300,000 units to 650,000 units in five years as a result of rapid digital transformations in the country’s economy coupled with a growing young population, a Chinese automaker said on Wednesday.
“The recent population trend shows around 10 million young males are expected to become independent earners in just half a decade,” said an official of Master Changan Motors Limited (MCML) during the company’s first vendor conference.
The conference that was held at the company’s plant in the metropolis is also the first ever such event conducted by any new entrant in Pakistan’s automotive industry.
KARACHI: South Korean tech giant Samsung has been in talks with three investors for setting up a mobile manufacturing unit in Pakistan.
Sources said out of three parties, one has a franchise from Korea which has already set up vehicle assembling plants in Pakistan under Auto Development Policy (ADP) 2016-21, while other two are different parties.
They said so far no agreement has been signed as Samsung, after short listing various companies, is in the process of finalising its plan to award the licence to one of the companies for cellphone manufacturing.
The world’s biggest smartphone maker said in an earnings estimate on Wednesday that it expected operating profit of around 12.5 trillion won ($11 billion) for April to June, up from 8.15 trillion won a year earlier.
Samsung Intends to Set up a Mobile Manufacturing Unit in Pakistan phoneworld.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from phoneworld.com.pk Daily Mail and Mail on Sunday newspapers.
Aiming for exports
July 7, 2021
LAHORE: Pakistan’s auto industry is now looking at the government to come up with a new auto policy, as the previous long-term document that had been in effect since 2016 has expired.
Auto policy 2016-21 gave consumers greater choice as new players challenged existing car assemblers.
The new policy should be announced after analysing the impact of the expired policy. A look at the 2016-21 policy shows that it was only partially successful as new entrants made their mark in the market.
The monopoly of three Japanese manufacturers was only partially dented. Moreover, European brands opted out after showing initial interest. French automaker Renault announced to pull off its investment due to economic uncertainties.
سفارت خانہ پاکستان نیدرلینڈز کے زیر اہتمام پاکستان میں تجارت اور سرمایہ کاری پر ویبنار jang.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jang.com.pk Daily Mail and Mail on Sunday newspapers.