This news is issued from Islamabad that the largest automobile manufacturer of China is going to start electric vehicle manufacturing in Pakistan: the Future Vehicle. This will be one of the quite great things for Pakistan. It will be known as the 1st private special economic zone (SEZ) and it is located in Raiwind, Pakistan.
Furthermore, the Board of Investment admitted that in an SEZ Committee meeting in Islamabad, the MG JW Automobile of Pakistan (Pvt Ltd) is just like a zone enterprise’ in the JW-SEZ in Raiwind. If we talk about the investment, then the investment is about 663 million Rupees as foreign investment. Moreover, the local investment is about 637 Million rupees.
Next, According to the officials updating, they informed that BoI had received the application regarding the Zonal Entry of MG JW Automobile Pakistan (Pvt Ltd). However, it has launched recently even then ‘SEZ MIS Module’; that is one-window for SEZs in Pakistan.
If we talk about the module, then there is no doubt that it is designed for facilitating real investors from all over the world.
Between SMIL and JW SEZ, MG Pakistan is considered as a joint venture, generally known as a subsidiary of SAIC Motor Corporation Limited. If you don’t have the idea regarding SAIC then it is quite important to know. Actually, it is a Chinese state-having manufacturing company headquartered in the city of Shanghai and it is multinational automotive design.
Surely, it is not only considered one of the largest manufacture in China but as well as globally. If we talk about a bit of history about SAIC. SAIC purchased the prominent British brand MG (Morris Garages) in the year of 2006. At present time, it is marketing the automobiles under the MG brand worldwide.
While speaking on one of the occasion, Atif Bokhari, who is the Chairman of Bol, said that they are working step by step. At the Initial point, the first private SEZ in Pakistan is proof of the facts that the current government is fully committed and trying its level best to facilitating the private investors. So that somehow the industrialization in the country could grow speedily.
The next Chairman, Fareena Mazhar, who is the Secretary of BoI, commented that the launch of SEZ MIS Module is the way to the digital future of SEZ-led Industrialization and success. If we talk about the facilities provided to the foreign investor are that they can submit their application online after registration. Which would further connected to the concerned authorities. In simple words, the Govt. is trying to working out assembling and manufacturing the Electric Vehicle Policy. The most important thing for the investors is incentives, it is encouraging the investors to invest in this sector.
If we talk about the future plans then the plan of the government is divided into three phases. In the first phase, they have planned for 30pc of all new trucks, buses, cars, jeeps and vans. In the next phase of 50pc of all two-, three- and four-wheeler will manufacture in the upcoming year of 2030. In the third phase, 90pc of vehicles on the road are envisioned as electric in the year 2040.
However, if we talk about the views of the Chines car maker then they are on the side for taking a direct shift to an EV future. Although, the Japanese companies of automobile wanted to follow the way for both hybrid and electric vehicles and the electric vehicles will allow for competing against in the countries such as Thailand, India and Malaysia.