ISLAMABAD, October 22 (INP-WealthPK): Assemblers of motorcycles in Pakistan have been urged to produce the spare parts in the country by setting up cottage industry.
President of Karachi Chamber of Commerce and Industry (KCCI) Tariq Yousuf gave these remarks while meeting a delegation of All Pakistan Motorcycle Spare Parts Importers and Dealers Association (MSPIDA) in his office at the chamber, read a KCCI press release received by WealthPK.
“Imports of these spare parts spoke a lot about misdirected policy efforts and a lack of initiative on part of the industrialist to develop indigenous industry. The import of these spare parts costs the country a lot of precious foreign exchange. This causes the country to go into more debt and borrowing,” he said.
After hearing the problems of MSPIDA members, the KCCI president said that the “long-term solution to the problems of motorcycle industry lay in the development of indigenous industry for the manufacture of spare parts. Dependency on foreign markets for the acquisition of spare parts is not a solution since the exchange rate fluctuations make it difficult to acquire the necessary spare parts in times of rupee losing its value.”
“In addition to exchange rate fluctuations, other issues related to imports like exorbitant customs duties, delays in clearance of consignments, heavy demurrage/detention losses and high costs of imported goods due to a depreciating rupee, will also be difficult to solve. Therefore, the only solution that remains is that of developing our own indigenous industry,” he said.
He extended full support of the KCCI to MSPIDA in case of any law and order situation. He said that KCCI’s Police Chamber Liaison Committee, and Law and Order Subcommittee will see to it that all the queries forwarded by the MSPIDA are heard and acted upon by the relevant government departments. “All MSPIDA members facing delays in clearance of imported goods could also approach KCCI. The chamber would get in touch with the customs authorities and the State Bank of Pakistan for their resolution,” he said.
