A meeting was held recently, federal minister for industries and production Makhdum Khusro bakhtyar informed the public that a new policy is going to be introduced by the government to promote the production and sale of cars by making them affordable that are 850 cc and 1000 cc cars. This will have many benefits such as it will boost the localization I domestic industry, competition in local market will increase due to which better technology could enjoyed at lower rates and get an exportable surplus of 2-3 wheelers.
The financing scheme the government is planning to introduce will lower interest rate on cars by 5 to 6 percent for people who are unable to afford cards due to previous major price hikes.
The minister of Industries and production said, that the government is focusing on small cars facilitation such as 850 and 1000cc cars, so that people can easily afford with less interest rate. The facility will be also extended for cars above 1000cc. the Minister said, “The rate propose for 1000 cc car is 6 percent and 5 percent for small cars”.
He further added, “The business and employment opportunities will increase in the auto industry by boost in sales”.
