The German Auto giant is officially coming to Pakistan. Volkswagen was among the list of those Automobile companies which were interested in the growing automotive Industry of Pakistan. The talks were undergoing since November 2017 with the government. In talks with the Volkswagen Board of Management member Joseph Baumert, The ex-PM Shahid Khaqan Abbasi stated that how the economy of Pakistan is being strengthened and credited investor-friendly policies for an economic turnaround in the previous years.
After a wait of a year almost, The German auto giant has finally concretized to bring their products in the Pakistani markets. The news comes as a breakthrough for the country’s auto sector as Volkswagen is considered as the most revered auto company in the world. The company has signed the final agreement with their local partner Pakistan Premier Motors Ltd (PML). The PML will be setting a plant to assemble the units in Karachi under the assigned license of Volkswagen.
Our economy will be susceptible to this development and will prove to be helpful to debilitate the monopoly of the big three. The consumers will have more choices in the future to buy vehicles of different brands and surely these new companies will gain precedence against the old ones.