Automakers have announced price increases in response to the local currency devaluation and rising raw material costs. One group of automakers may have a solution.
Mian Mohammad Mansha, owner of Hyundai Nishat Motors Private Limited, says that importing car parts from India can prove to be beneficial for the Pakistani car market.
He stated that:
I am a businessman. That’s why I say that if something is cheaper in India, why should I buy that from another country? The transportation cost is less (from India). There are so many products that we could buy. We (the Nishat Group) make Hyundai cars. Hyundai India is very big. We could buy some parts cheaper from India, than buying from China, for example. And you are also trading with China in such a large way. Your imports from China are huge, and if you look at it, you also have issues with China on the issue of territories and all that.
Pakistan has halted trade activities with India after India’s decision to abolish the regulation that granted occupied Kashmir special status. Mansha said, “I think we need to move ahead on the resolution of the Kashmir issue, we could take small steps. I do think we need to lower the temperature.”