Auto pol­icy en­cour­ag­ing but im­per­fect: FPCCI

The Pak Banker - - NATIONAL -

The Fed­er­a­tion of Pak­istan Cham­bers of Com­merce and In­dus­try (FPCCI) on Tues­day said re­cently an­nounced Au­to­mo­tive Devel­op­ment Pol­icy 2016-21 is en­cour­ag­ing but far from per­fec­tion.

The pol­icy an­nounced af­ter de­lay of three years claims that it en­cour­ages new man­u­fac­tur­ers to en­ter the mar­ket while pro­mot­ing the lat­est tech­nolo­gies but it seems dif­fi­cult in the cur­rent sce­nario, said Ab­dul Rauf Alam, Pres­i­dent FPCCI. In a state­ment is­sued here Yes­ter­day, he said that Pak­istan con­tinue to use sub­stan­dard petrol called RON 87 since twenty years while the rest of the world ex­cept So­ma­lia use RON 92, RON 94 etc. which is not only en­vi­ron­ment friendly but also save re­pair costs.

Ab­dul Rauf Alam said that the con­sump­tion on petrol in coun­try is up to 17,000 tonnes per day in which al­most 55 per­cent is con­sumed by mo­tor­cy­clists that de­serve fuel of bet­ter qual­ity and a cleaner en­vi­ron­ment.

Con­tin­ued im­port of sub­stan­dard fuel has pushed away in­ter­na­tional sup­pli­ers from Pak­istani mar­ket leav­ing gov­ern­ment de­pended on few sup­pli­ers with no com­pe­ti­tion, he noted.

The pres­i­dent FPCCI said that oil in­dus­try should in­vest in tech­nol­ogy upgra­da­tion, stor­age en­hance­ment and im­port qual­ity fuel to save cost of mases and in­dus­try which is al­ready fac­ing heavy losses due to in­creas­ing share of fake and sub­stan­dard lubri­cants.

He said that gov­ern­ment should ad­vance soft loans to re­finer­ies that are un­able to bear costs of pro­cess­ing qual­ity fuel while pro­posal to al­low sale of petrol of var­i­ous qual­i­ties must be re­jected as it will lead to adul­ter­ation which is against the in­ter­ests of masses. Re­duc­ing share of sub­stan­dard lubri­cants and in­tro­duc­ing qual­ity fuel will re­sult in re­newed in­ter­est of for­eign in­vestors in Pak­istani mar­ket, he said.

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