French auto mobile manufacturing company Renault is expected to start assembling cars in Pakistan by 2018.
Earlier this year, the government tried their best to win interest of western car makers like Renault with generous import duties. Seems like their effort has finally started to pay off.
The meeting between the Chairman of the Board of Investment, Miftah Ismail and stakeholders was held in Pakistan with foreign companies in the automobile sector with the approval of Prime Minister Nawaz Sharif’s economic policy and vision.
The chairman met with officials from companies like Renault-Nissan, Peugeot and Volkswagen.
During the recent Eid holidays, both the chairman and Finance Minister went to France to meet the top leadership of the company.
The move comes after the Economic Coordination Committee of the Cabinet reviewed the Auto Policy which made recommended new measures to be added in the expansion, investment and consumer protection in the automobile sector of Pakistan.
This is the same measures that got Pak Suzuki to ditch mehran in favor of Alto 660cc.