Syed Murtaza urges OEMs to reduce prices of vehicles

ISLAMABAD, Aug 18 (APP): Minister for Industries and Production, Syed Murtaza Mehmood Thursday asked the OEMs to reduce prices of vehicles in view of decline in US dollar vis-a-vis Pak Rupee.

He expressed these views while chairing meeting of Auto Industry Development and Export Policy here on other day, said a press release issued here.

The meeting covered vast agenda of policy making, price reduction, export promotion, enhancement of localization and import.

The minister lauded the steps of Indus Motor Company for price reduction and urged other companies to follow its footsteps.

As a result, Pak Suzuki Motor Company also announced price reduction, which will force other OEMs to consider providing vehicles to customers with reduced price tag.

The minister appreciated CEO EDB for efforts to facilitate investment in latest technologies including hybrids and electric vehicles and ensured continuous support to local manufacturing industry which is providing jobs to thousands of workers including engineers, technicians, skilled and semi skilled professionals.

The meeting was attended by leading vehicle manufacturers, part suppliers, government officials and representatives of consumers.