Islamabad: The government has given new projects of five vehicle manufacturing companies including Hyundai, Kia, Regal Automobiles, Khalid Mushtaq Motors and United Motors Greenfield investment status under the Automotive Development Policy 2016-21, which is expected to bring investments of over $800 million to Pakistan.

According to the Engineering Development Board (EDB), which works under the Ministry of Industries and Production, it is facilitating fresh investments in the auto sector from new companies including joint ventures with foreign players.

It is anticipated that with the revival of Dewan Farooque Motors, which has been given the go-ahead to manufacture vehicles under the new policy, Shehzore pick-up trucks will be re-launched shortly whereas Daehan Dewan Motor will manufacture Ssangyong Tivoli SUV with an investment of $145 million.

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