Pak Suzuki Motor Company Ltd (PSMCL), the leading manufacturer of passenger cars and light commercial vehicles in Pakistan, has made a fervent appeal to Prime Minister Shehbaz Sharif, urging him to reconsider imposing additional duties and taxes in the upcoming budget for the fiscal year 2023-24. The company has highlighted the challenges it has faced and the losses it has incurred due to economic uncertainties.
Grave concerns of the company
Shafiq Ahmed Shaikh, the Head of Public Relations at Pak Suzuki Motor, disclosed that the company experienced staggering losses of 12.9 billion in the first quarter of the current year, directly attributed to the prevailing economic uncertainties. These losses have had a significant impact on the company’s operations and financial stability.
“The company has also been forced to observe numerous No Production Days each month throughout the year. As we are fighting for our survival, we request the Government not to impose any new duties and taxes in the upcoming federal budget 2023-24, especially on up to 1000cc vehicles, the product of the masses”, Shafiq Ahmed Shaikh added.
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Urging the PM
By making this plea to the Prime Minister, Pak Suzuki Motor aims to draw attention to the adverse consequences that further financial burdens are having on the automotive industry. The company emphasizes the need for a supportive and conducive environment that fosters growth and sustainability, allowing the automotive sector to recover and thrive.
As the largest manufacturer in its field, Pak Suzuki Motor Company Ltd hopes that its concerns will be taken into consideration during the formulation of the budget, leading to a more favorable and stable economic environment for the industry as a whole.
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