ISLAMABAD: A China-backed joint venture has unveiled a $120 million expansion plan in Pakistan’s tyre sector, aiming to boost production capacity and increase exports to over $100 million in the upcoming fiscal year.
The announcement was made by Jin Yongsheng, chairman of Service Long March Tyres (Private) Limited, during a meeting with Commerce Minister Jam Kamal on Thursday.
Leading a delegation, Jin Yongsheng later called on Prime Minister Shehbaz Sharif at his secretariat, where he commended Pakistan’s investor-friendly climate and the government’s economic policies.
During the meeting, the delegation held discussions with the prime minister on expanding investment, enhancing export potential, and securing tariff policy support for the tyre industry. Federal Commerce Secretary Jawad Paul was also present.
An official statement said the delegation informed Prime Minister Shehbaz Sharif that the company was on track to meet its $70 million export target by June and aimed to surpass $100 million in the next financial year. Achieving this goal would place it among Pakistan’s top non-textile exporters.
PM Shehbaz noted that the government was prioritising efforts to strengthen business-to-business (B2B) linkages between Pakistan and China, reaffirming the country’s commitment to a “sustainable, transparent and facilitative” investment environment. He added that investors were being supported through the Special Investment Facilitation Council, and highlighted that joint ventures like Service Long March play a vital role in economic growth, job creation, technology transfer, and export expansion.
The delegation was also told that the Board of Investment was assisting the company across multiple areas, including support for establishing a development zone in Nooriabad.
Global Market Growth
During the meeting, it was shared that Pakistan has made notable progress in the global tyre market, with exports to the United States and Brazil rising rapidly. Pakistan has now become the fifth-largest tyre exporter to the United States and the seventh-largest to Brazil—marking a significant shift from having almost no presence in these markets just a few years ago.
This progress has largely been driven by technology transfer and expertise gained through collaboration with Chinese partners, enabling local manufacturers to meet international standards and compete globally.
Commerce Minister Jam Kamal acknowledged the concerns raised by the industry and reiterated the government’s commitment to supporting high-performing, export-oriented sectors. He stressed the need for a balanced tariff policy that promotes local production while maintaining global competitiveness.
The company’s manufacturing facility in Nooriabad was highlighted as a modern and efficient unit, employing around 2,000 workers and integrating renewable energy solutions.
Both sides agreed on the importance of strengthening collaboration between the government and industry to further drive export-led growth and industrial expansion.
About the Author
