Wednesday, November 19, 2008

Chinese car-maker may set up plant in Pakistan

Saturday, November 15, 2008ISLAMABAD: Chinese car manufacturers have expressed their willingness to establish an eight-seater car manufacturing plant in Pakistan.
Cars produced in this plant would be sold on cheaper rates as compared to cars of other companies, King Ping, Chairman of Chinese Mini Car Manufacturing Company told the Minister of State for Industries and Production, Ayatullah Durrani, during a meeting here on Friday.
King Ping is heading a Chinese manufacturing delegation to Pakistan. “In the beginning we will bring one thousand cars to the Pakistani market for introduction and after that we will start manufacturing here,” he said adding that the production capacity of the plant would be 1,000 cars per month.
On the occasion, the minister told the delegation that there was a great scope for investment in Gwadar as the government was providing complete security to the foreign investors.
Durrani assured the delegation that if they set up a car manufacturing plant in Gwadar, the government of Balochistan will provide complete security and land at cheep rates to them. He said that the government has also declared free tax zone to the industrial sector in Gwadar adding that the future of Gwadar was very bright as it would open new vistas for trade and economic activities in Pakistan.
He informed the delegation that many Chinese manufacturing companies were also in touch with the Pak-Government to seek industrial plots in Gwadar. He said that the government would provide all kinds of opportunities to the investors who invest in Pakistan and provide new technology.
Lucky Chow, Trade representative of Shihao Jiche, Mini Car Company and High officials of the Ministry of Industries and Production also attended the meeting.

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