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Minister for Industries and Production Khusro Bakhtiar on Wednesday said the prices of different vehicles are going to be reduced in the country as a result of tax relief announced by the government for the auto sector.

Addressing a news conference along with Minister for Information and Broadcasting Chaudhary Fawad Hussain in Islamabad, Khusro said that the notification regarding reduction in the prices of vehicles will be issued in the next few days.

Khusro Bakhtiar said the new auto policy will be furnished before the cabinet next month for approval. He said the policy will especially focus on localization and making the auto sector export oriented. He said our focus will be to ensure availability of a quality car to the people at a fair price.

The Minister pointed out that one hundred and sixty four thousand vehicles were manufactured in the country last year. This capacity will be enhanced to three hundred thousand this year and this will provide additional three hundred thousand job opportunities to the people.

He said 2.6 million motorcycles were manufactured last year and this capacity will be enhanced to three million units this year and this will provide additional seventy five thousand job opportunities.

Khusro Bakhtiar said that special facilitation is also being extended to those who are purchasing a car for the first time.

The Minister said it will be also ensured that the customers get their vehicles in a timely manner. He said there will be a penalty if the customers were not provided with vehicles in sixty days’ time.

Khusro Bakhtiar said the manufacturing of electric and hybrid vehicles will also be encouraged which will also accrue benefits for the economy.

In his remarks, Minister for Information and Broadcasting Chaudhary Fawad Hussain said the present government has put the economy on the right track. He said the current account deficit has been brought to zero whilst the industries and the agriculture sectors have been revived.