Monitoring desk
ISLAMABAD/KARACHI: Due to the shortage of dollars and import restrictions, Pakistan’s auto sector has almost reached a standstill.
Pakistan Auto Parts Manufacturers Association’s former chairman Mashhood Khan said that due to the temporary closure by auto manufacturers, the demand has almost reduced to nil. Pakistan’s auto sector has been working only for two days a week since the start of this month.
Pakistan’s auto industry and worries of traders
Mashhood said that the conditions did not bode well for the future, and the industrialists and traders were worried.
He also said due to the shortage of dollars and the non-availability of imported auto parts, the production of industries has shrunk.
Pakistan’s auto sector, including the local auto parts manufacturing companies, is suffering due to a lack of demand, forcing the auto industry to work only for two days a week.
Khan said that the issues started in July 2022 when the auto companies began to shut down their industry, decreasing the demand temporarily.
Due to the lack of demand, Pakistan’s auto-manufactures operated four days a week from July to December 2022.
He said that the conditions have worsened with the onset of the year 2023. He wondered how the manufacturers make parts if there was no demand for them.
He has noted that hyperinflation was also taking a severe toll on the workers associated with the auto sector.
