ISLAMABAD – The Ministry of Industries and Production has contradicted reports of cancellation of import licenses of three leading automobile manufacturers – Suzuki, Toyota and Honda.
Officials clarified that the actual issue was just revalidation of import quota of automobile manufacturers and not cancellation of licenses.
As per the media reports, the officials said that the government desired implementation of auto-policy in letter and spirit which required automobile manufacturers to do localization and export a certain portion of products.
The Ministry of Industries and Production has been directed by the Special Investment Facilitation Council (SIFC) to review, extend, and revalidate the import quota of automobile manufacturers for up to 90 days.
The ministry has also been directed to cooperate with the manufacturers to ensure adherence to the localization and export obligations.
