PR No. 91 Islamabad

As follow up of a meeting held on 06-06-2017 co-chaired by Mr. Khizar Hayat Gondal, Secretary, Ministry of Industries and Production and Mr. Azhar Ali Chaudhry, Secretary, Board of Investment with the prospective investors in the field of Auto Sector under the Auto Development Policy (ADP) 2016-21, a meeting was held today in the Conference Room of Board of Investment. The meeting was co- chaired by the Secretaries, Industries and Production and Board of Investment. Officials of Board of Investment, Ministry of Industries and Production and Engineering Development Board also attended the meeting. Four awardees of ‘Greenfield’ status were also present and they appreciated efforts of the MoIP and the BoI for being pro active in finalizing investment proposals in record time. They were asked to prepare their agreements to be effected pursuant to the award of ‘Greenfield status’ without any loss of time. All concerned assured that these agreements will be finalized over the next week.

The following applicants for award of Greenfield status also participated and showed their level of preparedness. Habib Rafiq (Pvt.) Ltd., Khalid Mushtaq Motors (Pvt) Ltd., Pak-China Motors (Pvt) Limited, Foton JW Auto Park (Pvt) Ltd, Cavalier Automotive Corporation (Pvt) Ltd.

They were urged to meet the necessary codal requirements under the Policy as early as possible; most of them expressed the resolve to present all necessary documentation by the 20th of this Month. EDB was urged to expeditiously examine and put up these cases for approval as and when complete documentation is received. Next monthly meeting with investors will be convened in the MoIP in the 2nd week of August, 2017.