Millat Tractors Achieves 90% Localization and Expands Export Footprint
Islamabad: The Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan, held an important meeting with the CEO of Millat Tractors, Sikandar Mustafa, to discuss the future roadmap of Pakistan’s auto and tractor sector. Federal Secretary for Industries and Production, Capt(r) Saif Anjum, also attended the meeting.
During the meeting, detailed discussions were held on the upcoming Auto Policy, Tractor Policy, and the promotion of local manufacturing and indigenization in the engineering sector.
Haroon Akhtar Khan stated that, under the directions of Prime Minister Shehbaz Sharif, a comprehensive and forward-looking Auto and Tractor Policy will soon be presented. He emphasized that the policy has been formulated after carefully considering the challenges and issues faced by the auto sector, ensuring a balanced and growth-oriented framework.Millat Tractors profit drops 17% in 1QFY26
Highlighting the government’s vision, Haroon Akhtar Khan said that Pakistan’s auto sector holds immense potential and can significantly expand through enhanced local manufacturing and indigenization. He added that the core objective of the new Auto Policy is to empower industries, strengthen domestic production, and promote export-led growth.
CEO Millat Tractors, Sikandar Mustafa, informed that the company has successfully achieved 90 percent localization in tractor manufacturing. He further stated that Millat Tractors has developed export capacity and is currently exporting tractors to international markets, reflecting the strength and competitiveness of Pakistan’s engineering industry.
The Special Assistant directed the Engineering Development Board to ensure comprehensive consultation with all stakeholders of the auto and tractor sector to develop an inclusive and practical policy framework that supports sustainable industrial growth.
