French manufacturers invited to set up automobile plants in Pakistan

ISLAMABAD: Finance Minister Ishaq Dar invited leading French automobile manufacturers to set up their automobile manufacturing plants in Pakistan.

Dar offered the invitation during his meeting with French automobile manufacturers Renault and Peugeot, in Paris on Wednesday.

He invited them to set up their manufacturing plants in the light of the new policy and growing demand, said a statement issued by Finance Ministry.

The minister briefed them about the recently announced automobile policy of the Pakistan government which has been giving attractive incentive and concessions for foreign investors.

He emphasised that with the resurgence of Pakistani economy in the last three years, manifested in macroeconomic stability, sustained GDP growth, and stable exchange rate and increasing consumer spending, there is a strong demand for new cars in the country.

The Senior Executives of both Renault and Peugeot lauded the remarkable turnaround in Pakistan's economy and expressed interest in investing in the automobile sector in Pakistan.

Chairman BoI, Ambassador of Pakistan to France and French Ambassador to Pakistan also attended the meeting.