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Wednesday 10 July, 2024
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Pak Suzuki Halted Bike Production Once Again

BY Shahzad Saeed Jun 12, 2023. 08:52 pm UPDATED: Jun 12, 2023. 08:52 pm

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Pak Suzuki Motor Company (PSMC) is once again in a difficult situation as a result of the ongoing economic crisis. The business has decided to halt motorcycle assembly for 5 days due to a lack of inventory.

According to the official announcement, the assembly of motorcycles will be halted from June 12 to June 16. Following the resumption of production, Suzuki may raise the bike prices due to the dollar exchange rate’s current topsy-turvy condition.

Due to the car industry’s lackluster 2023–24 fiscal budget, the production of cars and bikes may continue to suffer. According to the official budget document, the government has imposed a significant customs duty (CD) on the importation of a number of auto parts.

The import of auto parts is subject to a 35% CD set by the government. Regardless of how simple or complicated they are, the same rate has been applied to all auto parts.

Taxes on such essential parts are likely to serve as obstacles to price control or reduction for automobiles. The high CD is likely to present a significant challenge for the importers of parts.

Read more: Weather Update: Cyclone Biparjoy Intensifies, up to 400mm of Rain is Anticipated in Sindh

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