Indus Motor Company to sponsor Lahore auto parts show
Karachi: Indus Motors Company IMC is platinum sponsor for Pakistan Auto Parts Show PAPS 2011 in Lahore from October 24-26, 2011 aimed to provide platform for local engineering firms.
CEO IMC Pervez Ghias says auto sector is committed to play its role in development of engineering base and sponsoring PAPS 2011 is step in this direction, which will showcase achievements of Pakistan auto Industry in terms of localization. “We took initiative to organize PAPS 2011 for local auto part vendors to look for more export opportunities.” Praising efforts of local vendors in developing engineering base, enhancing skill sets of engineers, he said it is for efforts of OEMs that local auto manufacturers achieved 60% localization.
IMC already developed 60 vendors, arranged 34 technical assistance agreements for technology transfer, invested Rs 13 billion in development of internal infrastructure including Press Shop, Engine Shop, Paint Shop, he added. IMC’s procurement exceeds Rs 19 billion on local purchases every year procuring over 1200 parts, assemblies from local vendors for its various models. “We are making efforts to achieve maximum localization which is economically feasible. IMC along with other OEMs invested over Rs 75 billion in local auto industry and contributes more than 5% annually to national exchequer.”
Ghias said last year IMC contributed 1.5% to GDP. OEMs, auto parts manufacturers employ around 200,000 people and support employment of over 1,392,000 persons throughout its supply chain of vendors, suppliers, dealers. He hoped PAPS 2011 will attract local, foreign investors and local auto industry get support from government, policy makers which will help open doors to explore foreign markets.