As the new year begins, Pakistan’s PM made a ground-breaking $100 million announcement where MG Motors will start local production by the mid of 2021.
The automobile company, besides assembling vehicles in Pakistan, will also set up their manufacturing unit here. The automobile company will also produce electric vehicles.
Backed by China, the $100 million investment in its first phase plans to launch three SUVs, the MG-HS, MG-ZS 1.5, and MG ZS EV, a fully electric vehicle.
Prime Minister Imran Khan further added that China has always been Pakistan’s biggest ally in industrialization and has supported the country in achieving its economic goals of economic.
Units of MG Motors in Pakistan will attract further foreign direct investment boosting the connected industries, and will also generate employment.
China has a crucial history where the country uplifted its population of 700 million nearly 35 years ago. Pakistan could also learn a lot from China and work with the same vision to uplift the country and its people.
The PM further informed that the country is also working with China in the agriculture sector, including seed development.
According to the source, the PM also said that 2021 would be the year of economic growth, where it is expected to further flourish the textile, construction, agricultural and other business sectors of the country.
News Desk is the author at Research Snipers covering all Pakistan news including Business, Social, Entertainment, Economy, Pak News, World News, and More. News Desk is managed by a senior editor at Research Snipers.