LAHORE- The auto parts industry is continuously embracing the latest technologies to meet requirements and ever increasing global challenges which is reflected by the 10th edition of the largest auto parts show of the country. This was stated by PAAPAM Chairman Usman Malik on the third day of the mega even held at Expo Centre here.He pointed out that a lot has to be done on quality and standardization front. He said that Pakistan has a vibrant auto industry that plays host to major global original equipment manufacturers like Toyota, Honda, Suzuki and Massey Ferguson who have made Pakistan their home. Today, Pakistan manufactures tractors, cars, motorcycles and heavy vehicles that were playing a vital role in the economic development of the country. He said that PAAPAM members have made to achieve local manufacturing content of 70 percent in case of passenger and light commercial vehicles, 90 percent of motorcycles and tractors and 45 percent of heavy commercial vehicles. ”The auto industry encompasses technologies that include plastics, steel, forgings and castings, electronics, textile, rubber, oils and lubricants, design engineering, services and the list goes on.”He said that the 10th edition of the Pakistan Auto Parts Show, organized by the PAAPAM, proved to be a huge success, as more than 50,000 visitors thronged the expo centre during the three-day largest auto show of the country, while a large number of visitors from China, Japan, Singapore, UAE, UK, Sri Lanka, Oman, Korea, India and several other countries were also seen in the exhibition, booking thousands of orders. PAAPAM chairman, quoting the computerized data, said that the event, held for the last three days featured 162 national and international companies, attracting 18,400 registered trade visitors while general public attendance proved to be more than what the organizers could handle and is calculated to be over 55,400. He said that on the third day of the 10th annual biggest expo, extensive meetings were held with international buyers. He said that participating firms focused on showcasing their latest innovations to the Pakistan automotive Industry. Sectors featured at the fair included Parts and Systems, Accessories and Tuning, Tyres and Batteries, Repair and Maintenance, IT and Management, Cars, motorcycles, trucks, Rickshaws, Tractors and light commercial vehicles. Major players of the Pakistan automotive industry including Toyota, Suzuki, Shell, Honda and Millat Tractors sponsored the Show. PAAPAM Chairman said that innovation awards in the Engineering, Art and sculpture categories were presented by students. University of Central Punjab won the first price whereas Punjab University and FAST/NU came second. Other Universities participating included NCA, BNU, Karachi Art The Awards were handed over to students by former Deputy Chairman Planning commission and former Federal Secretary. Industries Dr. Akram sheikh, a pioneer of the auto industry development in Pakistan. Also amongst dignitaries who attend PAPS2014 included Mr. Kashif Anwar V.P LCCI and Sh. M Arshad, former SVP LCCI.He said that a seminar on “Export capacity building” concluded on third day of the exhibition. During the course of the event the organizers also arranged business dinners and musical nights for the foreign visitors and local dignitaries including a “Sham e- Zouk with Ghazal legend RahatFateh Ali Khan. Chairman said that the Pakistan Auto Show 2014 ended with a resounding success. He informed that the next version of PAPS will be held in February 2016 in Lahore. The chief organizer of the PAPS Syed Nabeel Hashmi, on this occasion, said that Pakistan is one of the most competitive global manufacturers of tractors and 2-wheelers that have now geared up into the export markets. In case of passenger vehicles, domestic products are highly competitive in comparison with neighbours. Due to high level of localisation, the technology acquisition and long term investments done by the PAAPAM members, he said.”We have good export potentials but our incentives and international exposure support is extremely weak.” Nabeel Hashmi said that automotive industry leads to a multiplier effect for growth and economic development with adjacent upstream industries such as Steel, metal fabrication, plastics, rubber , electronics etc etc and downstream such as finance, insurance, dealerships, advertising, transportation and fuel supply “Our industry provides more than 2.2 million direct and indirect employment Providing livelihood to over 10 million Pakistanis. Our investments have crossed 230 billion , we contribute 80 billion to government tax revenue being one of the top 3 tax paying sectors, we save 2.8b US dollars by localization of auto parts .