Allow two Korean and a Chinese company to manufacture vehicles in Pakistan...
Take a major step towards eliminating the monopoly of Japanese companies, allowing three new companies to set assemblies and manufacturing plants in Pakistan.
The three companies, which have been allowed, will include two South Korean and a Chinese company, which will invest around 37 million dollars in Pakistan in collaboration with Pakistani companies.
Ministry of Industry, Khuzar Hayat Gondal confirmed that the Ministry of Industry and Production has allowed United Motors Pvt Ltd, Kick Leak Motors Pakistan Limited and Nacht Group to set assemblies and manufacturing units in Pakistan under Green Field Investment degree. . He said that most investments ($ 19 million) of these companies will be done by Lucky, whereas the United States contributed $ 18 million and Nitro Group's $ 16 million worth spent in Pakistan. Will be done
Khuzar Hayat Gondal said that at least 9 companies would ask for permission to plant their plants in Pakistan, among whom three companies were allowed in the first phase while the remaining companies' applications were continuing.
According to the documents submitted by the three companies, United Motors will be planting the plant in Pakistan with the participation of the Chinese company, while the Nasir Group South Korean company Hondai and Lucky Cement will also plant the plants with the help of the South Korean company KIA Motors.
There is currently a monopoly of three major Japanese companies in the manufacturing industry in Pakistan, including Suzuki, Toyota and Honda. Due to the increase in competitiveness by the South Korean company, the production of units in Pakistan will eliminate the monopoly of the companies, while competing with competent vehicles will be available to Pakistani citizens.