Govt to introduce policy to boost local production of car parts

ISLAMABAD: The government is preparing to introduce a new policy to promote the local production of automobile parts, in a bid to strengthen the domestic manufacturing sector, said Haroon Akhtar Khan, Special Assistant to the Prime Minister for Industries and Production.

During a meeting with the Lahore Chamber of Commerce and Industry delegation in Islamabad, Khan highlighted the importance of boosting local manufacturing. He mentioned that the Prime Minister’s vision includes creating new job opportunities by expanding the manufacturing sector and encouraging the production of automobile parts within the country.

Khan further revealed that the government is considering a research and development policy aimed at attracting investment in innovation and supporting the growth of local industries. He assured the business community of the government’s commitment to improving the manufacturing sector’s performance, which will contribute to overall economic growth.

In a separate meeting with representatives from the Utility Stores Corporation, Khan stressed the need for close monitoring and better performance in the country’s largest retail network. He made it clear that the government will not tolerate any form of corruption and will ensure transparency across the board.

The meeting also revealed that the number of Utility Stores outlets will be reduced from 3,742 to 1,563 following restructuring. This step is intended to improve the corporation’s efficiency and lessen the financial burden on the national treasury. Khan reaffirmed the government’s commitment to improving the services provided by Utility Stores and stabilising its financial position through these reforms.

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