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Govt keen to accelerate new investment in auto sector


ISLAMABAD - In order to speed up new investment in auto sector, the government has urged investors to complete necessary requirements as early as possible.

During the meeting, co-chaired by the Ministry of Industries and Production secretary and Board of Investment (BOI) Secretary Azhar Ali Chaudhry along with the prospective investors in the field of auto sector under the Auto Development Policy (ADP) 2016-21, EDB was urged to expeditiously examine and put up these cases for approval as and when complete documentation is received.

The meeting was a follow up of a meeting held on June 6, 2017 for facilitatation of new investors in auto sector. Four awardees of ‘Greenfield’ status were also present and they appreciated efforts of the MoIP and the BoI for being pro-active in finalising investment proposals in record time. They were asked to prepare their agreements to be effected pursuant to the award of ‘Greenfield status’ without any loss of time.

All concerned assured that these agreements will be finalised over the next week. Next monthly meeting with investors will be convened in the MoIP in the 2nd week of August, 2017.

Source: The Nation