Pak Suzuki may roll back its expansion plan

[Devil Soul]

Pak Suzuki may roll back its expansion plan
AAMIR SHAFAAT KHANUPDATED ABOUT AN HOUR AGO
17 COMMENTS
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KARACHI: Pak Suzuki Motor Company Ltd (PSMCL) will review its decision to invest $460 million if the government fails to respond to its request for incentives until April, PSMCL spokesperson Shafiq Ahmed Sheikh told Dawn on Friday.

The proposed plant will generate 319,000 direct and indirect jobs, he added.

The company has been waiting for the government’s response for one year. Mr Ahmed said Finance Minister Ishaq Dar had assured PSMCL that the company would receive approval for incentives by January.

Board of Investment (BoI) Chairman Dr Miftah Ismail had assured PSMCL of the same in a recent visit to its plant.

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As per the request of Mr Dar, the company submitted specifications, schedule and other details to the BoI on January 1.

He said PSMCL’s principal in Japan has been waiting anxiously for approval of requested incentives to start work on the new plant.

The project is already delayed, he said, noting that the company’s financial year started from January 1.

Total promised investment is around $660m in which foreign direct investment from Japan is $250m. PSMCL is going to arrange $210m through its own funds and bank borrowings while vendors will invest $200m.

He said the company has purchased land for the plant. “This is a one-time investment. The plant’s completion will be in 18-24 months.”

However, Mr Ahmed said it is premature to comment about upcoming model details and specifications.

Senate’s Standing Committee on Industries and Production Chairman Hidayat Ullah and Federation of Pakistan Chambers of Commerce and Industry President Zubair Tufail informed the government last month that they were in favour of granting incentives to PSMCL for two years on new models at the greenfield plant.

Published in Dawn, March 25th, 2017

 

[A.A. Khan]

Screw this company throw it out of Pakistan.

Pak Suzuki is the major part of Auto mafia, PAkistan has become a joke even behind Afghanistan when it comes to driving 80s sub-standard cars in the 21st century. Screw the jobs, the millions of Pakistani consumers have been suffering in the hands of this auto mafia led by Pak Suzuki for 35 years.

Give the same incentives to Proton or ask any Chinese company (JAC) to enter Pakistan market even their standard cars will be cheaper and much better technology, they will also give much better commission to these PAk Govt. greedy *******.

Sick of this Pak Suzuki and its cars, request them to go away from Pakistan. These pathetic issues and one-sided policies will only introduce more illegal purchases of foreign cars. Pakistan is the geopolitical hub in between Central Asia, China and the Arabian Sea. How long will they deny Pakistanis cheap, better quality of cars? This same Pak Govt. and the courts that favor these auto mafia won't be able to stop the tide of auto industry from China and elsewhere into Pakistan. These stupid measures only push ppeople to find other ways to lease new cars, which is illegal in Pakistan but legal elsewhere.

 

[WAQAS119]

Good bye Suzuki - We won't miss you

 

[Clutch]

Good riddance to junk!

 

[Path-Finder]

this government made a lot of fuss over car makers coming to Pakistan, but who actually came or was it just 'josh e khitabat'?

 

[AZADPAKISTAN2009]

No where in world a external company asks for special rights ? ! for Automotive ? Never all different companies get equal chance to show case their product

 

[alibaz]

The should not only be shut down but kicked out of country, considering their products and their cost.

 

[aryadravida_exmuslim]

Screw this company throw it out of Pakistan.

Pak Suzuki is the major part of Auto mafia, PAkistan has become a joke even behind Afghanistan when it comes to driving 80s sub-standard cars in the 21st century. Screw the jobs, the millions of Pakistani consumers have been suffering in the hands of this auto mafia led by Pak Suzuki for 35 years.

Give the same incentives to Proton or ask any Chinese company (JAC) to enter Pakistan market even their standard cars will be cheaper and much better technology, they will also give much better commission to these PAk Govt. greedy *******.

Sick of this Pak Suzuki and its cars, request them to go away from Pakistan. These pathetic issues and one-sided policies will only introduce more illegal purchases of foreign cars. Pakistan is the geopolitical hub in between Central Asia, China and the Arabian Sea. How long will they deny Pakistanis cheap, better quality of cars? This same Pak Govt. and the courts that favor these auto mafia won't be able to stop the tide of auto industry from China and elsewhere into Pakistan. These stupid measures only push ppeople to find other ways to lease new cars, which is illegal in Pakistan but legal elsewhere.

Suzuki has been criminal towards Pakistan.
But the last thing you want are Chinese cars.

1. Chinese cars are just, Y'know, BAD.
2. If you think Pakistani knock offs of Japanese cars are bad, wait till you see knock offs and refurbished models of Chinese cars.

Your local brands need to take top brands head on, maybe through JV with a foreign brand. Otherwise it'll just be bad cars of Japan and China milking your market forever.

 

[Basel]

Pak Suzuki may roll back its expansion plan
AAMIR SHAFAAT KHANUPDATED ABOUT AN HOUR AGO
17 COMMENTS
PRINT
KARACHI: Pak Suzuki Motor Company Ltd (PSMCL) will review its decision to invest $460 million if the government fails to respond to its request for incentives until April, PSMCL spokesperson Shafiq Ahmed Sheikh told Dawn on Friday.

The proposed plant will generate 319,000 direct and indirect jobs, he added.

The company has been waiting for the government’s response for one year. Mr Ahmed said Finance Minister Ishaq Dar had assured PSMCL that the company would receive approval for incentives by January.

Board of Investment (BoI) Chairman Dr Miftah Ismail had assured PSMCL of the same in a recent visit to its plant.

ADVERTISEMENT
As per the request of Mr Dar, the company submitted specifications, schedule and other details to the BoI on January 1.

He said PSMCL’s principal in Japan has been waiting anxiously for approval of requested incentives to start work on the new plant.

The project is already delayed, he said, noting that the company’s financial year started from January 1.

Total promised investment is around $660m in which foreign direct investment from Japan is $250m. PSMCL is going to arrange $210m through its own funds and bank borrowings while vendors will invest $200m.

He said the company has purchased land for the plant. “This is a one-time investment. The plant’s completion will be in 18-24 months.”

However, Mr Ahmed said it is premature to comment about upcoming model details and specifications.

Senate’s Standing Committee on Industries and Production Chairman Hidayat Ullah and Federation of Pakistan Chambers of Commerce and Industry President Zubair Tufail informed the government last month that they were in favour of granting incentives to PSMCL for two years on new models at the greenfield plant.

Published in Dawn, March 25th, 2017

They are just blackmailers and trying to stop new comers in the market as they know they can't compete with them.

At least 3 new major auto manufacturing companies are very close to enter market, Kia, Audi are said to be among those.

 

[H!TchHiker]

Suzuki is just a blackmailer...Why only new plant..They should roll back all there investment and invest this teen taba car somewhere else

 

[ziaulislam]

govt needs to step in in my opinion
all they need is do a joint venture with start ups
starts up dont have enough money to invest

instead in the past govt helped pak suzuki a dozen of times by investing in it, and than buying it substandard vehicles in govt schemes

millions of died due to lack of safety in these vehicles e.g it lack air bags

 

[Mumm-Ra]

They must be out of their minds if they expect special favour for just $460 million?? Just throw out this junk company and invite other companies to bring smaller 660cc-800cc cars to cover their market..

 

[Great Sachin]

Such a big investment is leaving Pakistan and you guys are happy!

 

[Zhukov]

Yeah PS go ro hell

 

[Zhukov]

Suzuki has been criminal towards Pakistan.
But the last thing you want are Chinese cars.

1. Chinese cars are just, Y'know, BAD.
2. If you think Pakistani knock offs of Japanese cars are bad, wait till you see knock offs and refurbished models of Chinese cars.

Your local brands need to take top brands head on, maybe through JV with a foreign brand. Otherwise it'll just be bad cars of Japan and China milking your market forever.

There are no local brands here.