During the current fiscal year the
automobile industry has continued its growth momentum for the sixth
consecutive year. The demand in the auto sector has been catalyzed
by low interest rates in the financial markets, a persistent inflow
of home remittances, cheaper and easy availability of car financing
and frequent model changes induced by furious competition in the car
industry. The increasing trend touched almost every segment of the
Faster growth in vending industry has enabled the local automobile sector to achieve expansion in capacity as well as manufacturing technology. The auto industry has taken measures to get rid of the menace of ‘on-money’ (premium for early delivery) from automobile business in the Country through expansion in the production capacities by all the assemblers and increasing the supply of vehicles. Industrialists are making substantial investments to achieve this goal, which will also create job opportunities for an additional 100,000 plus skilled people.
Rs. 70 bn investment made in CNG Industry
With the price of oil reaching 100 dollars per barrel, the Compressed Natural Gas (CNG) Industry is poised to progress and develop enormously in the Country. More than 1,765 CNG Stations have already been set up while 1,000 more would be set up in next 3 years. Pakistan is likely to become the second top user of CNG in the world as over 1.6 million cars are now CNG fitted; 30,000 vehicles are being converted into CNG while about 3,000 new factory-fitted CNG Cars are being sold in the market by local manufacturers every month.
CNG BUSES and TRUCKS - The Green Revolution
The CDGK plans to
have 8000 CNG-fitted Buses soon to solve the public transport
problem for commuters, substantially reducing the environmental
pollution and global warming. In this respect CDGK is likely to
award contracts for the installation of 5 CNG Filling Terminals on
Public-Private Partnership basis. The Chief Minister NWFP & City
Nazim, Peshawar city have invited M/s Yumna Aircraft Mfrs Ltd, China
for 700 CNG fitted Buses for NWFP. CNG & LNG Trucks development is
also in the pipeline for commercial use.
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