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Renault to assemble cars in Pakistan soon

ISLAMABAD: Government of Pakistan Thursday announced French car manufacturing company Renault is going to start assembling cars in Pakistan by 2018.

The Board of Investment (BoI) said in a statement on Thursday that after approval of Prime Minister Nawaz Sharif’s economic policy and vision, Special Assistant to the PM and Chairman of the Board of Investment Miftah Ismail held meetings with stakeholders in Pakistan and foreign companies in the automobile sector.

Ismail met with foreign companies like Volkswagen, Peugeot, Renault and Nissan.

The Economic Coordination Committee of the Cabinet headed by the finance minister constituted a committee to review the Auto Policy and recommend new measures for expansion, investment and consumer protection in auto sector of Pakistan.

The government was wooing foreign car makers like Renault and Nissan with generous import duties earlier this year.