Pak Suzuki Motor Calls for Economic Support, Appeals for Tax Relief in Federal Budget 2023

Pak Suzuki Motor has made an urgent appeal to the government to refrain from imposing any new duties and taxes in the upcoming federal budget. Additionally, the company is requesting a reduction in existing duties and taxes, specifically for vehicles up to 1000cc, to ensure the minimal survival of this segment and support the masses.

Pak Suzuki Motor Co. Ltd has been an integral part of the automotive industry in Pakistan for almost four decades, contributing significantly to the national exchequer. However, the company is currently facing one of the most challenging periods in its history, exacerbated by the prevailing economic uncertainties. The adverse conditions have led to substantial losses of 12.9 billion in the first quarter of this year. To mitigate the impact, the company has been forced to observe numerous “No Production Days” throughout the year. This situation has not only affected Pak Suzuki but also its dealers and vendors, many of whom are on the brink of closure, adding to the economic distress.

In light of these circumstances, Pak Suzuki Motor Co. Ltd earnestly requests the government to avoid introducing any new duties and taxes that could further burden the automotive industry. The company emphasizes the critical importance of supporting vehicles up to 1000cc, which cater to the needs of the masses and play a significant role in ensuring affordable transportation for the population.

Shafiq Ahmed Shaikh, Head of Public Relations at Pak Suzuki Motor Co. Ltd, expressed the company’s concerns, stating, “We are currently fighting for our survival and appealing to the government to consider the challenges faced by the automotive industry. By refraining from imposing additional taxes and reducing existing duties for vehicles up to 1000cc, the government can provide much-needed relief to the industry, allowing us to recover and contribute to the nation’s economic growth.”

Pak Suzuki Motor Co. Ltd, with its extensive dealership network and reliance on local vendors, plays a vital role in generating employment and supporting the national economy. The company’s appeal to the government aligns with its commitment to sustaining the automotive industry and safeguarding the interests of its workforce and stakeholders.