Renault Arriving in Pakistan. Company will start assembling here in 2018.
Renault is a French automobile manufacturer that was established in 1899. The company manufactures a variety of cars and vans, and in the past has manufactured trucks, tractors, tanks, buses/coaches and other vehicles.
According to a report, Renault has accepted Pakistan’s invitation and company announced that they will start assembling cars in Pakistan in 2018.
Last month, Ishaq Dar who is the current Finance Minister of Pakistan met the representatives of Renault to answer their queries about the new import/export policy here in Pakistan.
The major attraction for multinational companies like Renault is the our new policy which allows these investors to import tax free manufacturing plant equipment and pay less taxes on import of parts.
According to the report, after approval from the Prime Minister automobile policy, Ishaq Dar, with Special Assistant to the PM and Chairman of the Board of Investment Miftah Ismail, met the following multinational companies’ representatives:
“We want greater competition, and we expect with greater competition consumers will be offered better choices,” said Chairman of the Board of Investment.
Only Renault has decided to join the revolution in Pakistan. Rest of the companies are said to give their answers soon, too.
Nissan chief spokesman said:
“Pakistan is certainly a market of interest for us at present”, but no final decision had been made at the time.
Numerous meetings were held between all the stakeholders for business. These meetings helped in working out a new policy package to attract investors in Pakistan.