LAHORE: Federal Minister for Industries and Production Syed Murtaza Mehmud said on Friday that the government and business community should work together for economic development of the country.
Addressing the inaugural ceremony of Pakistan Auto Show 2022 at Lahore International Expo Centre here, he said that the trade deficit was a big and fundamental issue and it was the main reason behind various problems, being faced by the auto industry today. He said that trade deficit accumulated over long period of time and efforts were being made to resolve the issue. He said: “We must learn from our past mistakes and move forward”, adding that only those countries made progress which learnt from their mistakes.
He said that for sustainable progress, it was imperative to ensure continuity of economic policies and no politics should be done on it. “All political parties should sit together and sign a charter of economy for the next 25 years, ” he suggested.
He appreciated the role of vendors in the auto industry, adding that they should also focus on the international market. He said that there was a huge potential for the export of auto-parts and joint efforts should be made for the purpose. He promised full cooperation to auto industry vendors and stated that his doors were open for them and they could visit him any time.
The minister also appreciated achievements of the tractor industry in localisation, saying that over 90 per cent industry had been localised. He emphasised that the auto industry should also make efforts for localisation and consistent efforts should be made for the purpose.
He expressed pleasure over participation of the youth in the auto show and said that the youth should be encouraged for progress of the small and medium enterprise (SME) sector.
Chairman Engineering Development Board Almas Haider, former president Lahore Chamber of Commerce and Industry Anjum Nisar, auto show chief organiser Syed Hafeez and others also addressed the ceremony,
Earlier, the minister inaugurated the Pakistan Auto Show 2022 and visited stalls of the various vendors and auto manufacturers.
The Pakistan Auto Show is the initiative of the Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM), which represents over 3, 000 large, medium and small industries all over Pakistan. More than 153 exhibitors, including 13 international companies, participated in the show.