Car companies reimbursed Rs. 4 billion in payment for late deliveries under the new auto policy

This was done under the consumer protection clause of AIDEP 2021-26.

Chief Executive Officer (CEO) of Engineering Development Board (EDB), Raza Abbas Shah revealed that car companies have reimbursed Rs. 4 billion in payments to consumers for late deliveries. This was done under the consumer protection clause of AIDEP 2021-26.

The new Federal Minister for Industries and Production Makhdoom Syed Murtaza Mahmud held a briefing session on the automobile industry. Senior officers of the Ministry, like Federal Secretary Mr. Jawwad Rafique Malik and CEO of EDB, etc., attended the event.

The CEO of EDB also gave an overview of the sector of Pakistan with regard to two broad-spectrum policies. These policies included the Automobile Development Policy (ADP) 2016-21 and the newly launched Auto Industry Development and Export Policy (AIEDP) 2021-26.

It was highlighted that the AIEDP will focus on these:

  • Bi-annual update of the SRO 693
  • Promoting EVs and new innovations in the industry
  • Export targets for auto parts, along with cars that are locally manufactured
  • Addition of value in the industry by 30%
  • Adoption of safety regulations with the help of the legislation

CEO of EDB, Shah also stated that the newer version of the ADP 2016-21 included the entrance of seven new automakers into the local market. He highlighted that the country has achieved around 92% in tractor production, 55% in local car production, and 95% in motorbike production.

Minister Makhdoom Syed Murtaza Mahmud added that the new policy is important in ensuring that there is steady growth and development in the sector. He said that there is a need to increase the use of EVs to decrease the contribution to the challenges of global warming.

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