The Board of Investment (BoI) revealed on Thursday that French automobile manufacturer Renault will start assembling cars in Pakistan by 2018.
“Renault has decided to invest in Pakistan. They will start assembling cars in Pakistan by 2018,” the BoI said in a statement, claiming the development was the outcome of the “hectic efforts and persuasion” by Finance Minister Ishaq Dar.
“During Eidul Azha holidays, Finance Minister Ishaq Dar and Dr Miftah Ismail, chairman BoI, visited France and met the top leadership of Renault,” the communiqué added.
This indeed is great news for consumers as well as auto enthusiasts of Pakistan to finally see something shaping up into reality as the outcome of Auto Policy 2016-21.
Related: Renault in Pakistan- What to Expect?
The Duster could be available at a price of around Rs 2.5 million, which is even lower than the prices of 1500cc Japanese made cars, said the Board’s officials. The company will also introduce up to 1200cc cars to cater the needs of the upper-middle class, the officials added.
The finance minister had in September met representatives of the two vehicle manufacturers in Paris and briefed them about the country’s automobile policy, which offered attractive incentives and concessions to foreign investors.
Pakistan wants to shake up its Japanese-dominated car market and loosen the grip of Toyota, Honda and Suzuki, whose locally assembled cars are sold at relatively high prices but lag behind imported vehicles in terms of quality and specifications.
Established in 1899, Renault produces a range of cars and vans, and has also manufactured trucks, tractors and tanks, among others vehicles in the past. Launch of Renault cars in Pakistan will surely play a pivotal role in generating competition in the automobile sector, as well as give confidence to other major players including VW & Fiat.
from The Express Tribune