Belarus To Invest In Pakistan's Automobile Sector
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The Pakistani Dragon
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Posted 05 July 2012 - 10:09 PM
Friday, July 06, 2012
ISLAMABAD: A Belarus delegation headed by Sergey Romanov, OJSC MAZ Minsk Automobile Plant called on Minister of State Chairman Board of Investment, Saleem Mandviwalla to explore investment opportunities in the field of assembly and manufacturing of heavy vehicles in Pakistan.
Belarus delegation was interested in production of tractors and other vehicles in Pakistan due to lower cost of production, lower taxes and cheap labour.
Further, the local industry itself was developed which was an added advantage to the investors. The major interest of the Belarusian Company was to collaborate with the Pakistan Military organisations in production of heavy vehicles in Pakistan. In this regards they were already in contact with Pakistan Army.
Mandviwalla apprised the delegation Pakistan has one of the lowest motorisation levels (8 vehicles per 1000 persons) in Asia compared to India (11), Sri Lanka (25) and Malaysia (641) indicating a domestic market rife with growth potential.
The removal of 5 percent excise duty would enhance sales growth. Fall in steel prices has massively reduced the cost of production of vehicles.
Engineering Development Board enlightened the delegates on the subject and apprised that they are actively implementing the Auto Industry Development Program (AIDP) to achieve the targets like increase the GDP contribution of the automotive sector to 5.6 percent, boost car production capacity to half a million units, attract an investment of $3 billion and reach an auto export target of $650 million.
Minsk Automobile Plant is a state-run automotive manufacturer association in Belarus, one of the largest in Eastern Europe. It manufactures heavy-duty trucks, buses, trolleybuses, road tractors and semi-trailers for semi-trailer trucks, and cranes. MAZ was, and possibly is, the worlds largest manufacturer of TELs (Transporter-Erector-Launchers) for many of the world’s mobile ballistic missiles, from the widely proliferated MAZ-543 used to carry and launch the Scud B through to the recent Topol M’s impressive 8-axle TEL.
Pakistani GDP 2011: $211 Billion
GDP Growth 2011-2012: 3.7% (Estimate)
GDP Ranking: 47th (15th In Asia)
Pakistani Trade 2010-2011: $65.22 Billion
Trade With Neighbours: $16.7 Billion
China ($10B) | India ($2.7B) | Afghanistan ($2.5B) | Iran ($1.5B)
Trade With US/EU: $16.38 Billion
Trade with GCC: $16 Billion
Pakistani Mobile Phone Subscriptions: 118 million (2012)
Pakistani Internet Connections: 22 million (2012)
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Posted 05 July 2012 - 10:39 PM
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