Pakistani auto market is monopolized by the Toyota, Honda and Suzuki. According to reliable sources the official of Nissan and Renault met with officials form Board of investment and Engineering Development Board in a meeting to discuss the plan of introducing new cars by Nissan and Renault in Pakistan.
Group Renault is a French multinational automobile manufacturer. Nissan is a Japanese multinational automobile manufacturer.
Last month, Ishaq Dar met the representatives of Renault to resolve their queries about the new import/export policy Pakistan has devised for car manufacturers looking to expand their businesses here in Pakistan.
New measures for expansion, investment and consumer protection in auto sector of Pakistan were proposed by Economic Coordination Committee after reviewing the Auto Policy, headed by the finance minister.
Miftah Ismail, chairman of Board of Investment Said, “We expect there will be one or two foreign investors coming into Pakistan…. hope some people will bite”. He further said that we would like to have as many manufacturers as possible in Pakistan by ensuring protection to our local manufacturers.
The major attraction for companies such as Renault is the new policy which allows these investors to import tax free manufacturing plant equipment and pay less taxes on import of parts when assembly starts plus various other incentives that can help new entrants in the automotive industry to set up their operations in Pakistan.
Nissan chief spokesperson Jonathan Adashek said: “Pakistan is certainly a market of interest for us at present”, but added no final decision had been made.