KARACHI: Ghandhara Nissan (GNL) informed the Pakistan Stock Exchange (PSX) about the creation of around 10,000 direct and indirect job opportunities for Pakistanis with the start of the production of Renault vehicles in Pakistan, a press release said on Friday.

GNL has joined hands with French automaker Renault and Al-Futaim of the United Arab Emirates (UAE) to produce Renault vehicles at the existing plant of GNL at Port Qasim.

The company said the project will attract investment of $100 million, including approximately 60 per cent foreign investment. The new auto policy will ensure a level playing field for new entrants, GNL said.

An automaker, who asked not to be named, said it will be interesting to see a European carmaker compete in price with the already established Japanese players.

Besides, European designs are different from those of Japanese manufacturers, as Pakistanis are accustomed to Japanese cars, he said.

In addition, three-year-old used Japanese cars, sport utility vehicles (SUVs) and other vehicles are already being imported in Pakistan in huge numbers.

Published in Dawn November 5th, 2016