Karachi: In continuation of its policy and commitment in the development of engineering base of the country, the Indus Motor Company IMC is sponsoring Pakistan Auto Parts Show 2013 as one of the prime sponsors that is to be held at Karachi Expo Centre from January 11 to January 13, 2013.
‘PAPS2013 is an exhibition depicting the achievements of Pakistan’s auto industry in terms of localization and provides local auto part vendors an opportunity to showcase their localization efforts and seek new markets and buyers. It is also a good platform to educate key stakeholders about the industry in details,’ said Chief Executive Officer of IMC Parvez Ghias.
While praising the efforts of local vendors in developing engineering base and enhancing skill sets of local engineers, Ghias said that through the efforts of OEMs local auto manufacturers have achieved over 60% localization.
‘IMC is fully committed to localization process and has already developed 60 vendors and has arranged for 34 technical assistance agreements for transfer of technology. In addition, IMC has invested over Rs 13 billion for progressive localization of its range of products in Pakistan and procured Rs 27 billion worth of local parts and sub assemblies from local sources during year 201112,’ he added.
Being the leading OEM and platinum sponsor for PAPS2013, IMC aims to provide a platform to local engineering firms to showcase their efforts and achievements and explore new market opportunities.
He further stated that industry contributes more than 5% of total FBR collections annually. ‘Last year, IMC alone contributed around Rs 25 billion in terms of taxes and duties,’ he added.
Along with contribution towards exchequer OEMs and Auto parts manufacturers employ over 200,000 people and supports employment of over 1,536,000 persons throughout its supply chain of vendors, suppliers and dealers, said Ghias.
He hoped that PAPS2013 will attract local and foreign investors/buyer and the local auto industry will get due recognition and respect for its efforts in economic development and growth of Pakistan.