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Islamabad, Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb affirmed the government’s commitment to supporting the local automotive industry during a meeting with industry leaders and a tax operations member from the Federal Board of Revenue.
According to Ministry of Information and Broadcasting, the meeting featured discussions with Vice Chairman of Toyota Motor Corporation Shinji Yanagi and CEO of Indus Motor Company Limited Ali Asghar Jamali, who presented data on the performance and economic impact of locally assembled cars. They advocated for adjustments in import duties to promote industry growth and encourage the adoption of Hybrid Electric Vehicles (HEVs), aiming to reduce the country’s oil import burden.
Minister Aurangzeb emphasized the importance of collaboration between the government and the private sector to address industry challenges. He reassured the delegates of the government’s readiness to support the automotive sector within fiscal constraints to ensure mutual benefits.
The industry representatives expressed gratitude towards the Finance Minister, pledging to work closely with the government to enhance the growth and competitiveness of the local automotive industry.