KARACHI, Jul 31 (APP): Federal Minister for Industries and Production, Rana Tanveer Hussain, on Wednesday, said that the government was vigorously pursuing the vision of transforming Pakistan into a hub of innovation and self-reliance with commitment to strengthen the domestic industry.
The minister, while addressing a ceremony held here to mark achievement of significant milestones of export of vehicles from Pakistan and localization of production by Toyota Indus Motor Company (IMC), said that the government aims to boost the automotive sector by encouraging the export of localized parts and vehicles.
He felicitated the company on achieving remarkable milestones that resonate with the nation’s aspirations and said that reaching an impressive 64% localization in operations through integration of local content into production processes was a remarkable accomplishment of the company that demonstrate a commitment to strengthening our domestic industry and underscore their pivotal role in the growth of industrial sector of Pakistan.
IMC has invested over $ 700 million to expand its production capacity to 76,000 units, making it the largest sheet metal part producer in Pakistan, Rana Tanveer said and added that contribution of Rs258 billion to the national exchequer was a testament to the company’s unwavering commitment to national development.
Emphasizing the significance of contributory efforts for building a resilient economic framework and paving the way for future progress and prosperity, he said “Such contributions are crucial in supporting our economy, fostering sustainable
growth, and enhancing the quality of life for our citizens.”
The minister stressed the need of adopting a proactive approach to address environmental challenges by embracing eco-friendly technologies and lauded the IMC’s initiative of introducing Hybrid Electric Vehicles that were not only aligned with global trends but also set an example for others in the industry to follow. He termed it as a significant stride towards reducing the CO2 footprint of Pakistan and promoting sustainable transportation solutions.
The Executive Vice President, Toyota Motor Asia, Kazunari Iguchi, expressed intention to continue the collaboration with IMC and contribute to development of Pakistan. He said that Pakistan as a nation has eminent capabilities and they have proved that they could deal with encountered challenges with steadfastness.
He said that the milestone of export of ‘Make of Pakistan’ vehicles was achieved with full cooperation of the Pakistan government amid the measures taken by the government for strengthening the national economy.
The CEO Indus Motor Company, Ali Asghar Jamali, stated “To see the ‘Make of Pakistan’ dream cross international borders is a big moment for not just for us but Pakistan too and we want to thank all our stakeholders for their continued support and trust to make this happen.”
Expressing endeavor to place Pakistan’s auto industry as a symbol of reliability and quality on the globe, he hoped that this step will not only augment IMC’s export capabilities but also contribute towards the development of Pakistan’s growing auto industry.
The minister accompanied with CEO EDB, Engineer Khuda Buksh, representative of the SIFC and other government officials cut the ribbon for export of “Make of Pakistan” vehicles and also inspected various sections of production facilities. He also planted a sapling at the occasion.