Analysts and pundits of the automotive industry have urged policymakers to bring about a paradigm shift quickly with a view to revamping the industry in this testing time.
They presented a host of proposals to bolster the industry through formulating a 10-year consistent policy, activating Pakistan Standards and Quality Control Authority (PSQA), reducing taxes as almost 40% price of vehicles consists of taxes and encouraging small and medium-sized enterprises (SMEs) to make exports.
The republic policy approached industry mentors to get their views on enhancing exports, localising the industry and strengthening the national economy.
Abdul Rehman Aizaz, car deal association leadder, said allowing imports of raw material at zero duty and doing away with regulatory duties on all raw materials would ensure the availability of all necessary raw materials at regionally competitive prices, similar to India, China and Turkey.