Karachi July 28 2022: State Bank of Pakistan (SBP) has introduced a mechanism for prior approval for import under HS code 8703 category (including CI(Ds) vide circular No. 09 of 2022 dated May 20,2022. Restrictions had adversely impacted clearance of import consignments of the company from the ports which might result in shutdown of the plant in near future.
Therefore, Pak Suzuki has stopped bookings of its products since 1st July, 2022.
The company would like to clarify that as of today, there is no plan for plant shutdown. The production schedule of the company and any non-production days remain contingent on a number of external factors. The company is actively monitoring its production and operations and is closely working with the Government of Pakistan and SBP to alleviate the present challenges.
Pak Suzuki Motor Company Limited was incorporated in Pakistan as a public limited company in August 1983. The Company was formed in accordance with the terms of a joint venture agreement concluded between Pakistan Automobile Corporation Limited and Suzuki Motor Corporation, Japan (the Holding Company). The Company is engaged in the assembling, progressive manufacturing and marketing of Suzuki cars, pickups, vans, 4x4s and motorcycles and related spare parts.
