ISLAMABAD: Ministry of Industries and Production Tuesday informed that investment under the Automotive Development Policy 2016-21 is very crucial for growth in this sector and over all in country’s economy.
Due priority to this area will be accorded by all the relevant government sectors for speedy processing of investment proposals and other allied facilitation required in this regard, Federal
Secretary for Industries and Production, Khizar Hayat Gondal in a meeting along with Secretary Board of Investment (BoI) Azher Ali Chaudhry and representative of automobile sector here.
He assured the perspective investors that no hinderance will be allowed to cause delay at any level.
He said if they will be facing any difficulties in smooth processing of their cases they should be brought in the notice of secretary, Ministry of Industries and Production and BoI.
The secretary industries also decided to hold a similar meeting on bi-monthly basis to put implementation of all such investment proposals on fast track.
While Secretary BoI, Azher Ali Chaudry fully echoed the spirit and content of the views expressed by Secretary MoIP and vowed to support the investment proposals through personal involvement and put in place stricter monitoring regime.
On the occasion, CEO ECD briefed the secretary MoIP on the progress of all the cases of green investment in the ADP 2016-21. He highlighted the shortcomings in the proposals of the investors.
The secretary Industries and Production directed EDB to take all necessary measures to process all the cases on fast track and strictly within the framework of the policy for determination of their eligibility.
The investors expressed their satisfaction on the re-assurance if the secretary MoIP and hoped that new investment in the auto sector will bring about healthy competition in the sector.
