Chinese carmakers to set up new plant in Pak

Islamabad: Chinese car manufacturers are ready to set up new manufacturing plant in Pakistan.

During a meeting between the King Ping, Chairman of Chinese Mini Car Manufacturing Company and Minister of State for Industries and Production, Ayatullah Durrani, Chinese investors said that the cars produced in the new plant would be sold on cheaper rates as compared to vehicles of other companies.

The production capacity of the plant would be 1,000 cars per month. King Ping said that in the beginning the company will bring 1,000 cars to Pakistani market for introduction and later manufacturing would be started in Pakistan.

The minister informed the delegation that there was great scope for investment in Gwadar as the government was providing complete security to foreign investors. He assured the delegation that if they set up a car manufacturing plant in Gwadar, the government of Balochistan would provide complete security and land on cheep rates to them.

He said that the government has also declared tax-free zone to the industrial sector in Gwadar. The future of Gwadar is very bright as it would open new vistas for trade and economic activities in Pakistan.

He informed the delegation that many Chinese manufacturing companies were also in touch with the Pakistani government to seek industrial plots in Gwadar.

The government would provide all kinds of opportunities to investors who invest in Pakistan and provide new technology. Lucky Chow, Trade representative of Shihao Jiche, Mini Car Company and high officials of the Ministry of Industries and Production also attended the meeting.