Pak Suzuki Motor Company (PSMC) has requested Prime Minister Shehbaz Sharif not to impose new duties and taxes on the automotive sector in the upcoming budget 2023-24, which is expected to be tabled on June 9.
In a letter written to Prime Minister Shehbaz Sharif, Pak Suzuki Motor Company (PSMC) highlighted the struggles it has gone through in its 40 years of operations in Pakistan.
Pak Suzuki said that it has already suffered huge losses of Rs. 12.9 billion in the first quarter of current year due to the economic conditions of the country, which has led to the company observing numerous non-production days (NPDs) every month.
It said that the company’s dealers and vendors are also suffering from the poor economic conditions and business situation with some already closed and many more on the brink of closure.
“As we are fighting for survival, we request the Government not impose any new duties and taxes in the upcoming federal budget, especially on up to 1000cc vehicles, the product of the masses.” said the letter.
Read more: Pak Suzuki Shuts Down Motorcycle Assembly.