Govt ready to facilitate direct foreign investment: Minister

CEO of the ADM Group Yasir Bhambhani stated on Thursday that the company was eager to invest $250 million in Pakistan to support the production of electric cars, giving local customers access to eco-friendly autos.

He stated that the first phase of the project would see the establishment of charging network stations, while the second phase would involve the manufacturing of electric vehicles at a meeting with Federal Minister for Industries and Production Rana Tanveer Hussain. According to him, an electric vehicle can travel 300 km on a single charge.

The minister stated that the Ministry of Industries and Production is dedicated to working closely with all pertinent stakeholders and that the government is prepared to support direct foreign investment in the country.