Pak Suzuki urges govt not to impose new duties, taxes in next budget

Pak Suzuki Motor Company Ltd (PSMCL) urged Prime Minister (PM) Shehbaz Sharif not to impose “new duties and taxes” in the upcoming budget 2023-24, highlighting its struggles and losses due to ‘economic uncertainties.

According to the 24NewsHD TV channel, the largest manufacturer of passenger cars and light commercial vehicles in Pakistan, PSMCL penned down a letter to Prime Minister Shehbaz Sharif and highlighted its “struggles and losses due to economic uncertainties in the country.

Pak Suzuki Motor, Head of Public Relations, Shafiq Ahmed Shaikh revealed that the company suffered massive losses of 12.9 billion in the first quarter of the current year due to economic uncertainties.

“The company has also been forced to observe numerous No Production Days each month throughout the year,” the letter stated, adding that the dire economic and business situation has also affected dealers and vendors, with some already closed and others on the verge of closure.

“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,” the letter concluded.