Sazgar, a well-known name when it comes to manufacturing auto rickshaws in Pakistan is now venturing into the car market. Reportedly, the Lahore-based company is planning to manufacture and assemble light passenger cars and light commercial vehicles in Pakistan.
Last week, Sazgar submitted the notice to Pakistan Stock Exchange to advance their company’s product portfolio. The new auto policy 2016-21 has surely revolutionized the local industry of Pakistan, where foreign and local companies are working towards acquiring the incentives to manufacture automobiles in Pakistan.
Sazgar aims to set up a new manufacturing plant under the new policy’s Greenfield Investment Category. Many international companies are also making its way to the Pakistani market including the European car manufacturer Renault, the South Korean auto companies KIA and Hyundai etc.
Audi AG also applied for incentives but the Board of Investments (BOI) has rejected its investment plan. According to the BOI, Audi only wanted to invest in MKD (medium knocked down) model with only vehicle assembly in Pakistan which is against the policy.