LAHORE – Pak Suzuki Motor Company has requested Prime Minister Shehbaz Sharif not to impose any new or increase existing duties in the forthcoming budget especially on up to 1000cc vehicles.
Like the other auto manufacturing companies, the largest manufacturer of passenger cars and light commercial vehicles has sustained unprecedented losses due to poor sales, heavy taxes and import restrictions.
Having largest dealership network and local vendor base, PSMC is one of the top contributors to national exchequer.
The Company has drawn attention of the PM towards problems faced by the auto industry in general and PSMC in particular.
“PSMC is going through the worst times of its history of about 40 years. The company has already suffered huge losses of Rs12.9 billion in the first quarter of the current year due to current economic uncertainties. The company is also observing many “No Production Days” every month throughout the year. In addition to this, our dealers and vendors are also suffering very badly due to the current economic and business situation, as some of them are already closed and many more are on the brink of closure”, the letter reads.
“As we are fighting for our survival, we request the government not impose any new duties and taxes in the upcoming budget, especially on up to 1000cc vehicles, the product of the masses”, the letter further reads.