The Automobile Industry In Pakistan

1761 Words8 Pages
Chapter 1
1.1 Introduction
Automobile industry is one of the biggest segments of global trade. Evolving models, enhanced fuel efficiency, reducing expenses and improving customer satisfaction without compromising on quality are the fore most challenges that the automobile industry has to face in today's time. The importance of automobile industry is because of the fact that other industries are dependent on the automobile industry, it plays its role in providing various vehicles to people, that not only help them in commuting but also it makes the transportation of goods possible. Although vehicles may simply appear to be machines, but in reality there is quite a lot involved of advanced technology involved in its production and design. Integrated
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Automobile industry’s contribution to GDP in 2007 was 2.8%. The automobile industry has been seen actively growing in Pakistan a long time, but still it isn’t established well enough become part of the top automotive industries of the world. Looking at the Pakistani market, there is a large range of motorbikes which are used throughout the country as a mode of transportation, despite the potential for growth efforts are still to be made in this segment. Also we need to look at the fact that cars are imported from Japan in large numbers, whereas people are interested in buying manual cars rather than the automatic…show more content…
The economy is a result of food processing, chemicals, textiles, agriculture amongst various other industries. In the year of 2005, the country was Asia’s third fastest growing economy. However in the past few decades. The economy took a blow resulting from the ever-growing population, the political disputes and low levels of foreign direct investment. The latter has changed due to the recent CPEC agreement. Along with CPEC, the IMF has also given a green signal to the government policies favoring foreign investment and basically granted Pakistan a greater access to the global markets of the world. This has allowed Pakistan to somewhat recover from the economic downturns. Amongst the economic reforms, the most notable was the decision of privatization in the banking sector in 2000 has played a vital role in helping the economy get back on its

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