After Renault, Fiat Chrysler may also grace Pakistan’s automotive industry with its presence. The delegation from Pakistan Association of Automotive Parts and Accessories (PAAPAM) has recently returned from their business trip to the USA, Germany, and Italy where they met with the dignitaries of Fiat Chrysler Automobile Tire 1 manufacturers.
Pakistan, in talks earlier this year, has tried to impress foreign carmakers such as Volkswagen Group, Renault-Nissan and Fiat Chrysler Automobiles with generous import duties to provide a boost to the country’s auto industry. These talks have already resulted in the arrival of Renault-Nissan in Pakistan, and they are expected to start the manufacturing assembly in 2018.
Chairman PAAPAM Mashood Ali Khan is optimistic about getting the orders for the new model from the American auto parts manufacturer for their new model in 2017-2018.
PAAPAM has been working on increasing the auto exports in Pakistan. They are improving their auto policies to cater to the incoming investors and provide them incentives to enter the Pakistani market. The arrival of big car companies will break the monopoly of a few automotive brands which has raised the prices of automobiles in Pakistan. The cheapest car in the country is Suzuki Mehran which is sold for 650,000 PKR ($6200), which is double than the price offered in India.
Due to recent stability in the Pakistani market and economy, the country is a prime target for investment from foreign markets. The introduction of a major car manufacturer can put the economy of the country on a fast track by witnessing a decrease in unemployment, the increase in the national income and gain of technological abilities.