Friday, March 1, 2024

Suzuki Pakistan Requests Prime Minister Not to Increase Taxes Due to Poor Sales

Pak Suzuki Motor Company (PSMC) has appealed to Prime Minister Shehbaz Sharif to refrain from introducing new or increased duties, particularly on vehicles up to 1000cc, in the upcoming budget. The company, like other automobile manufacturers, has faced significant losses due to low sales, high taxes, and import restrictions.

PSMC is the largest manufacturer of passenger cars and light commercial vehicles in Pakistan and contributes significantly to the national exchequer. The company has highlighted the challenges faced by the auto industry as a whole and specifically mentioned its own difficulties.

PSMC has experienced the worst period in its approximately 40-year history, incurring substantial losses of Rs12.9 billion in the first quarter of the current year due to economic uncertainties. The company has also had to implement “No Production Days” every month throughout the year. Additionally, its dealers and vendors have been severely affected, with some already closed and others on the verge of closure.

In light of these circumstances, PSMC has requested the government to avoid imposing any new duties and taxes in the upcoming budget, particularly on vehicles up to 1000cc, which are affordable for the general public.

Related Articles

Latest Articles