ISLAMABAD: In Pakistan, the Ministry of Industries and Production has suspended the manufacturing licenses of three automotive companies due to their failure to meet export targets.
These companies, involved in the production of cars and auto parts, allegedly violated Pakistan's auto policy by not increasing local production and failing to achieve a 2% export target, as required by the country's auto manufacturing conditions. The ministry sources have indicated that the government does not plan to extend the licenses of these companies.
This action has been taken at a time when three major auto manufacturers in Pakistan had to temporarily shut down their production plants due to a shortage of essential raw materials. However, Pakistan recently marked a significant milestone by entering the global car market. A Pakistan-Chinese automotive joint venture, Master Changan Motors, became the first Pakistani auto company to export SUV vehicles to Kenya and Tanzania, sending an initial batch of 14 SUVs to these foreign countries. This achievement holds significance in light of Pakistan's economic challenges.
