ISLAMABAD - President Mamnoon Hussain Thursday said that auto industry has great potential to excel in Pakistan.

Addressing the opening ceremony of the Distinguished Innovations, Collaboration and Entrepreneurship Automotive Conference in organized by National University of Science & Technology (NUST), President said that key to development and stability of industries is in use of modern technology and creativity.

He said that auto industry in Pakistan has great potential to excel and called upon concerned policymakers and stakeholders to devise a comprehensive strategy to take this industry to new heights keeping in view globalization, liberalization and global business competitive environment. The President said that the government is committed to promotion of auto industry in the country and it is imperative to develop the industry on modern lines while catering to the need of consumers.

The President noted that in developed countries auto industry is a central pillar of economy as it is closely linked with other industries like steel, petroleum, plastic and textile thereby plays a stabilizing factor in national economy.

“The auto industry in Pakistan has attained great importance as well and if serious attention is paid towards its development then in the next few years this industry along with allied ones can provide employment to a large number of people”, remarked the President. “Similarly, after operationalization of China-Pakistan Economic Corridor (CPEC) the importance of this industry would further increase”, added the President, and called upon the youth to utilize most of these opportunities by equipping themselves with necessary skills and expertise.

The President observed that fundamental changes are occurring in auto industry in the light of environmental degradation adding that now environment friendly vehicles are being introduced in the global markets and called upon the country’s auto industry to pay attention toward this important aspect. The President said that youth has great responsibility to put the country on path of progress and prosperity and should channelize their energy toward positive activities. The President emphasized that youth should dream big and then strive their best to fulfil their dreams.

The President said that corruption and bad governance during the tenure of previous governments had eroded the economic foundations of the country which deterred Pakistan from achieving its rightful place in the comity of nations.

The President stated that due to the efforts of the present government the situation is now improving. He added that due to the ongoing energy projects and import of LNG the energy crisis in the country is likely to end by 2018.

The President urged the youth particularly girls to acquire education and advise them to adopt their own culture and not to ape the west.

Talking about CPEC, the President said that the project would prove to be a game changer not only for Pakistan but for the whole region adding that Central Asian States have started constructing roads to link with the Economic Corridor to get benefit from it.

He further stated that significance of Gwadar Sea Port would increase manifold after becoming operational. He called upon the youth to support the government in completion of CPEC projects.

Dr Abdul Ghafoor, Chairman DICE Automotive Pakistan, Engineer Muhammad Asghar, Rector NUST, Dr Khursheed Qureshi, Chairman DICE USA and Mumshad Ali, Chairman Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM), among others, also addressed the ceremony.

On the occasion, the President inaugurated the NUST-DICE Automotive Innovation Centre and also took a round of Automotive Exhibition and appreciated the work being done in the field.