Motorcycles, tractors export to African countries likely soon

[LRE]

Motorcycles, tractors export to African countries likely soon

ISLAMABAD: South Africa and its adjoining countries are interested in importing Pakistani tractors and their parts. The Pakistani Trade Office there is receiving queries on daily basis in this regard.

This was revealed in a meeting of sub-committee on fiscal issues, indigenisation formed under Auto Industry Development Programme (AIDP) by Engineering Development Board (EDB) Tuesday.

Representatives of major motorcycle manufacturing companies in the country said that they were about to make a breakthrough in African market by signing agreement for export of motorcycles.

However, the committee felt that the progress on export front was very slow and the industry should take remedial measures to increase it in order to offset trade deficit. It requested its sister committee on exports to thoroughly analyse the situation and recommend measures. The auto industry expressed its concern on new tax measures introduced in the current budget and described these as detrimental to their growth. The industry is preparing a working paper on adverse affects of the current budget, which would be submitted to the EDB shortly. The industry would involve representatives of Ministry of Industries and Production in its preparation. staff report

http://www.dailytimes.com.pk/default.asp...2008_pg5_5