Contrary to reports in the local media, an official of the Ministry of Industries has denied that the import licenses of Suzuki, Honda, and Toyota have been canceled.
He clarified that the news circulating about the suspension of their licenses wasn’t true and that it was just the issue of revalidation of the import quota. Various local news channels had wrongfully reported that the government had canceled the import licenses of three international car brands.
“The major issues were non-localization and no exports of a certain portion of their products required under Pakistan’s auto policy 2021-26,” the official told a local media outlet.
On the other hand, the Ministry of Industries and Production has been directed to review, extend, and “revalidate the import quota” of 11 auto manufacturers for a period of up to 90 days. The instructions were given by the Special Investment Facilitation Council (SIFC).
Furthermore, the ministry has also been ordered to cooperate with these manufacturers to make sure they adhere to the localization and export obligations.
Additionally, an official of the Engineering Development Board (EDB) also dismissed media reports about the suspension of licenses. He said that their import quotas were not revalidated after failing to meet the required targets.
this does not look good