Pak Lags Behind Afghanistan in Proportion of cars

Karachi, Pakistan lags behind Afghanistan in the proportion of the population and the cars. According to the figures of the industry, the motorization rate in Pakistan . is less than India, Afghanistan, Sri Lanka, Indonesia and China. There are only 16 cars for one thousand people. This proportion in India is 22 cars, 47 cars in Afghanistan, 50 cars in Sri Lanka, 83 cars in Indonesia and 102 cars are available for one thousand people in China.
The lowest motorization rate in Pakistan is the source of inspiration for the international investors and the motor manufacturing companies. The encouragements are given in the automotive development policy 2016-21 in Pakistan and the new manufacturers are coming to Pakistan by getting the benefits of the increasing demands of the cars. The auto financing at the lowest interest rate is helpful on the sale of the vehicles and increase in the investment.
According to the figures, during the first 9 months of the 2016-17, the auto financing is increased to 23.4%. The auto financing was also increased to 20.4% during the same period of the financial year 2015-16. With the finishing of the apna rozgar scheme, the development of the vehicle industry was decreased. However, the increase in number of infrastructure projects established under CPEC and the attitude to transfer to the cities caused the increased in the development activities and the development rate of the industry of vehicle helped to maintain it.
During the financial year 2015-16, the development ratio of the vehicle industry was 23.4%, which was decreased to 11.3% during the financial year 2016-17. Now the production of the buses and trucks are increased to 20% and 40% respectively.
On the other hand, the favorable circumstances for the farmers, better rates of the commodities, better production and kisan package and decrease on the sale tax and resultantly increase in the demand of tractors helps in the pace of the development of the auto industry. The increase of the tractor was shown as 74.2% during the first nine months of the last financial year and the tractor manufacturing companies are exporting the Pakistani made tractors to the African countries and to the countries of the Middle East.