In a promising development, Suzuki has decided to offer sizeable aid to Pakistan in support of the flood victims.
According to an official notification, the company will offer a relief fund of 10 million Japanese Yen (Rs. 15.6 million) to aid flood victims across Pakistan. The official notification reads:
We have our heartfelt solicitude to the people who suffered with their lives due to the recent flood adversity and also extend support and sympathy to the people who are still suffering from this natural disaster. Suzuki group has decided as a gesture of solidarity to extend the aid of 10 million Japanese Yen to help people come back to their normal lives again. We wish and pray for the earliest recovery from this disastrous condition.
Suzuki’s Current Position
So far, Suzuki is the only automaker to announce aid, despite its ongoing struggles in the auto industry. The company recorded a massive loss in the half-year, while also observing a decent profit in the previous quarter.
It is expected that the company’s earnings will dwindle further due to a decline in production and sales. Recently, Pak Suzuki Motor Company (PSMC) opened bookings for various models except for its best-seller, Alto.
Following that development, the company halted production for three more days due to insufficient inventory. It stated that the non-approval of the letter of credit has hampered its production operations.
PSMC, along with other carmakers is going through a dry patch as the government introduces new measures to restrict imports and preserve the foreign exchange reserves.
