News

Ministry restores licenses of 3 major car manufacturing companies

By News Desk

November 8, 2023 07:54 PM


The Ministry of Industry and Production has restored the manufacturing licenses of 3 major companies including Toyota, Honda and Suzuki on Wednesday, reported 24NewsHD TV channel.

According to sources, it is a temporary reinstatement of suspended manufacturing licenses of car manufacturers.

Business plans have been sought from car manufacturers till 31 December 2023, said sources.

Sources said that the action was being taken for non-fulfilment of conditions related to export and localization of vehicles

They further said that automobile companies have not increased production of vehicles locally.

“The car manufacturers failed to meet the 2 percent export requirement”, sources said

Sources said that according to rules car manufacturing companies are bound to manufacture vehicle components and spare parts locally.

Reporter: Waqas Azeem


News Desk


Most Read

  1. Lights out for wonky US lunar lander, for now Lights out for wonky US lunar lander, for now
  2. It’s Asif Zardari versus Mahmood Achakzai for presidency It’s Asif Zardari versus Mahmood Achakzai for presidency
  3. CM Maryam slaps total ban on postings and transfers CM Maryam slaps total ban on postings and transfers
  4. Ayaz Sadiq elected speaker, Syed Ghulam Mustafa deputy speaker of National Assembly Ayaz Sadiq elected speaker, Syed Ghulam Mustafa deputy speaker of National Assembly
  5. Second-time PM Shehbaz declares: Pakistan will rise again Second-time PM Shehbaz declares: Pakistan will rise again
  6. PTI leader Alia Shahzad arrested on arrival at Lahore Airport PTI leader Alia Shahzad arrested on arrival at Lahore Airport

Opinion

  1. Literate the Religious Illiterate
    Literate the Religious Illiterate

    By Dr Asif Channer

  2. THE SECRET WAR: Public Interest Vs Official Secrets Act 1923
    THE SECRET WAR: Public Interest Vs Official Secrets Act 1923

    By Syed Aun Mohammed Bokhari

  3. Political Opportunism and the 18th Constitutional Amendment
    Political Opportunism and the 18th Constitutional Amendment

    By Muhammad Asad Ayaz

  4. To Know and Not to Know
    To Know and Not to Know

    By Abdullah Bin Tahir

  5. Gender equality: A pre-requisite for a balanced society
    Gender equality: A pre-requisite for a balanced society

    By Mehak Sabir