Fresh investment in auto sector on the way: minister

LAHORE: Minister of State for Finance Omer Ahmed Ghumman said here on Friday fresh investment in the auto sector was on the way that would ease prices in the local auto market.

“Some leading brands in the world such as Folks and Mercedes have agreed to make investment in Pakistan and a Memorandum of Understanding has also been signed in this respect,” he said, adding: “The auto investors were searching out suitable sites for setting up their units in Pakistan.”

Speaking at inaugural ceremony of the Auto Tech Pakistan 2005 International Exhibition at Fortress Stadium, Lahore Mr Ghumman said no duties would be reduced to bring down prices of imported cars, as the government was having new plants of automakers in order to bring down prices. He said both the president and the prime minister were favouring the setting up of new plants in the country and the government would be facilitating them fully. According to him, the deletion programme would be concluded by 2007, which was proving a hurdle in the way of setting up of new car plants. staff report

Is "Folks" supposed to be VW?

Yes! VolksWagen means the peoples car in German. People = Folks.

Hey PakiPatriot you go to UMD. Thats gr8. I go to UMBC. I have alot of friends in Collegepark.

Assalamualekum,
i just hope that these car makers lower there prices as london is one of the most expesive cities in the world and the prices of the new cars over here are lower than that of pakistan and believe me that the quality of the cars over here is much better as well i just hope the government of pakistan do something about it.

SPEEDY
enjoy