Pak Suzuki Motor Company (PSMC) has recommended that Prime Minister Shehbaz Sharif not impose additional duties and taxes on the automobile industry in the forthcoming budget 2023-24, which is due to be submitted on June 9.
Pak Suzuki Motor Company (PSMC) underlined the challenges it has faced in its 40 years of business in Pakistan in a letter to Prime Minister Shehbaz Sharif.
Pak Suzuki stated that it has already incurred large losses of Rs. 12.9 billion owing to the country’s economic difficulties, which has resulted in the business seeing multiple non-production days (NPDs) every month.
It further stated that the company’s dealers and vendors are suffering as a result of the bad economic conditions and business environment, with some already closed and several more on the brink of closing.
“As we fight for survival, we request that the Govt not impose any new duties and taxes in the next federal budget, particularly on up to 1000cc vehicles, the product of the masses,” the letter stated.
