Pakistan's automobile industry may close down

Fahad Hussain

According to PAMA Pakistan Automotive Manufacturers Association, the Pakistan automobile industry 2023 may close down soon. There are plenty of reasons, why such action may take place. The rising dollar has played a crucial role in increasing the prices of different kinds of automobiles. Even though the government encouraged a focus on localization, the automobile factories in Pakistan focused on importing spare parts. More than 80% of parts have turned out to be imported. The popular brands in Pakistan have increased their prices 5 times higher than the older ones. And the funny thing is, the material used in the process of manufacturing is not new as well. The future of the automobile industry in Pakistan is hard to predict but it is evident, that the manufacturers need to focus on localization and cut down prices by stopping the import. 

01:59 PM 21 Jun, 2023