Pak-Suzuki had planned to invest around $460 million in the country following the announcement of the new auto policy. However, the plan seems to be left in the lurch because of the attitude of the Ministry of Finance and Board of Investment (BoI) who refuse to take the matter seriously. A senior official of Pak-Suzuki in Karachi has reported this matter on Tuesday.
All of this is despite the fact that the company has filed all the completed paperwork and submitted it to the government. However, Pak-Suzuki is still waiting for a reply from the relevant ministry and Ishaq Dar, Finance Minister, has asked the company to now contact the Chairman of BoI, Dr. Miftah Ismail.
The reason for the investment by Pak-Suzuki is to set up a its second car plant in Pakistan. The company is also constantly trying to avail the tax breaks for the next three years, similar to those accorded to the new entrants as per the new auto policy.
Regarding this matter, the top management officials have met with the members of the relevant Pakistani ministries to discuss the issue. Managing Officer and Division General Manager of Pakistan Automobile Division at Suzuki Motor Co. Ltd., Hirofumi Nagao, met with Ishaq Dar in December of last year and the talks resulted in the Pakistani government promising to provide an even playing field to any prospective investors.
Decision Should Not Be Delayed Further
A Pak-Suzuki official did say that they the company is waiting for the 2-3 year tax concession and then they will start the investment. However, the decision shouldn’t be delayed any further since after the Japanese New Year in March, the company may just decide to invest this very same amount in India – again – and Pakistan will lose out on a great opportunity not only because of this loss of investor but also potential future ones.
The official also said that because this investment would mean the employment of around three thousand direct jobs and a lot more than that for indirect jobs, the Engineering Development Board (EDB) and the standing committee of Industries and Production and Federation of Pakistan Chamber of Commerce and Industries (FPCCI) are already in favour of this.
However, according to Pak-Suzuki, the problem lies with the potential disinterest shown by Dr. Miftah Ismail with regards to its new future investment in the automobile industry.
Pak-Suzuki currently imports two of its new cars, the Suzuki Vitara and Suzuki Ciaz. However, that is going to be very difficult now with the imposition of the 100% cash margin condition by the State Bank of Pakistan. So it now plans to build the models for sale here in its new plant.
Pak suzuki is crying like a baby since the govt. Announced new auto policy. They need cerelac and pampers. Look at their attitude. One day they say they wind up from pakistan. The other day they say we want to invest more. The next day they say they will not invest.
They want all new tax benifits which are only for new entrant. They want no competition . This should not be attitude of a mutinational company. All mutinational companies are meant to face competition. this is there attitude towards competition no wounder they are no where in top around the world
Grow up pak suzuki and stop crying. Face the upcoming competition.
Their earning from only one vehicle Suzuki mehran is equivalent to their investment in Pakistan, it is a very poor decision if they do not invest in Pakistan although they are making money in Pakistan since 80s and meharan Era…
Pak Suzuki is the most pathetic company with the worst ever products.
Leave the country in peace and take your sh**y cars with you.
They already earned ‘andhi’ and now they want all benefits of new Auto Policy too.
As if anyone cared.
Go Suzuki Go!
Don’t let the door hit you on the way out!
Oh and take your over priced vitara and ciaz with you!
Like anybody gives an eff.
Unfortunately, it is China’s time now ….
you might want to correct that to … FORTUNATELY* !
China’s cars are MUCH better than any Suzuki car !
oh and … they AN ORDER OF MAGNITUDE CHEAPER than ANY of the Japanese piles o’ JUNK !
Invest the money in India, Israel which country you want but please get out of Pakistan……
And take (especially) teen dabba aka Mehran with you.
In fact this is very good news and govt. did not bowed in front of these pathetic Japaneses monopolist companies we need European cars and we should raise bar up to European standards
whatever it is, THERE IS NO MATCH TO ONE AND ONLY MEHRAN, the most anticipated car of modern era, that car is just priceless (in its true meaning :P), worthless (also in its true meaning :D)
once i was in love with my MEHRAN and then sold it :(
Pak suzuki can chod-off
Let the PAK Suzuki bleed to its natural death…. Let’s not even put it on VENT… I Mean… wat the heck… an 800 CC PEEPA for Rs 7 Lac…. Die Pak Suzuki Die…..
please … DIE ALREADY YOU IMBECILES !
“the company may just decide to invest this very same amount in India”
In India they can invest without any concessions but in Pak where they have been making dirty money, its difficult for them. I will say take all of your investment and ancient cars to India. No one cares
Go Suzuki Go!
Ro Suzuki Ro!
;-)
Suzuki leaving Pakistani market altogether will be a great relief. They sell utter crap at such huge prices, its hard to digest. Government must not bow down to pressure and privide them with any favours cuz of this planned investment.
So they have enjoyed all the protection since the 1980s, us waqt investment kahan gayi thi? Now that new players are going to enter and compete with them, investment yaad aa gayi…