Automotive industry: Govt calls for fundamental shift to boost export growth

According to Business Recorder, the government wants a basic change in Pakistan's automotive sector, moving it away from mainly serving the home market toward production geared for overseas buyers. On Wednesday, policymakers, industry players and development partners convened at the Planning Ministry for a policy dialogue on the sector's high-value export potential. The session sought ways to raise automotive shipments abroad in line with the USD 63 billion goal set under URAAN Pakistan.

Planning Minister Ahsan Iqbal argued that exports sit at the heart of URAAN Pakistan and deserve status as a national concern beyond a mere economic aim. He added that Pakistan can no longer keep its focus mostly on the domestic market, and that the automotive industry could play a particularly important part in becoming a competitive export economy. He also pointed to the new Auto Policy 2.0, which he said would help the industry integrate into global markets.

Iqbal urged private firms to lead the export push, calling for five-year sector plans that set out each industry's likely contribution and the government support it needs. He also called for a district-level export development plan covering every region. Discussion also covered the sector's hurdles across several areas, from output efficiency and new technologies to physical infrastructure and access to foreign markets.