Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a meeting with the Vice Chairman Toyota Motor Corporation (TMC) Mr. Shinji Yanagi and CEO Indus Motor Company Limited, Mr. Ali Asghar Jamali, Aamir Allawala from Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM), along with with Member-IR Operations FBR at Finance Division today. Mr. Yanagi and Mr. Jamali expressed their interest in strengthening the local auto industry. They briefed the Finance Minister on the performance and volume of locally assembled cars and their impact on Pakistan’s economy. The delegation proposed certain adjustments to import duties to foster local industry growth, thereby contributing to overall economic progress. Furthermore, they gave proposals to enhance the uptake of Hybrid Electric Vehicles (HEVs) to reduce the oil import bill. The Finance Minister reiterated the government's commitment to support the local industry. He emphasized the need for collaborative efforts between the government and the private sector to address the challenges faced by the automotive industry. He further stated that the Government will proceed within the available fiscal capacity, to ensure favourable outcomes for both the Government and the private sector. The delegation thanked the Minister for Finance & Revenue and expressed their commitment to work closely with the Government to enhance the growth and competitiveness of the local auto industry.
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