Suzuki has plan of investing $460 million into Pakistan if the government revises recently announced new auto policy and offers some incentives.
Pakistan Suzuki Motor Company that assembles Suzuki cars for the local market, showed concerns over the new auto policy in a statement it emailed to an international news agency.
Karachi based Pakistan Suzuki Motor Company said that the new auto policy has damaged the investment potential in country’s automobile industry by existing players like Pak Suzuki Motor Co., which is ready to invest $460 million in Pakistan if incentives and benefits are provided.
Pakistan Suzuki Motor Co. further disclosed that by $460 million investment, a new state of the art plant of Suzuki would be built on urgent basis and the company will also launch 4 new models within next five years – two out of these four would be available in the market by 2018.
The new auto policy announced by government of Pakistan favors the new foreign automobile manufacturers which have been offered lower duties for bringing them into the business.
Government also wanted to break the existing players’ monopoly like Suzuki, Toyota and Honda that have dominated the Pakistani market for years.
The reason behind giving favors to new entrants is to give a choice to Pakistani car users who are forced to purchase locally assembled cars on relatively higher price; these vehicles are far behind imported cars in terms of quality and features.
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