ISLAMABAD: Japanese car assembler M/s Suzuki on Friday shared its woes with respect to restriction on imports with Minister for Commerce Syed Naveed Qamar. According to M/s Suzuki Motors, since last June, due to import restriction, the company is unable to make payment to its foreign suppliers.

The car assembler informed the Minister that it has already suffered a huge loss of Rs 19 billion till first quarter of outgoing fiscal year.

“Our survival is at stake. We have written letters to State Bank of Pakistan for facilitation and support but nothing has happened,” the sources quoted Suzuki delegation as conveying to the Minister.

M/s Suzuki has submitted the following requests to Commerce Minister: (i) immediate release of consignments at port that were shipped after January 18, 2023; and (ii) payment of long pending invoice to the company’s foreign supplier.

According to an official statement issued by the Commerce Ministry, a three-member delegation, led by Masafumi Harano, the Asia Head of Suzuki Motors, held a crucial meeting with the Federal Minister for Commerce in his chamber.

The meeting was attended by Hiroshi Kawamura, MD PSMCL, and Shafiq Ahmed Shaikh, Head of PR at Pak Suzuki. The purpose of their discussion was twofold: to address matters of mutual interest and deliberate on import-related issues, Commerce Ministry said, adding that Masafumi Harano emphasized the import restrictions issues and stressed the need for a conducive business environment that promotes growth and competitiveness.

The Minister expressed his willingness to address these concerns and assured Harano of the government’s commitment to facilitate a conducive import framework. The meeting concluded positively with both parties reaffirming their dedication to fostering a mutually beneficial partnership that will drive the growth of the automotive sector in the country.

Copyright Business Recorder, 2023


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Builder Jun 17, 2023 12:28pm
Suzuki should start building its pathetic cars from all local resource or wrap up. They are a burden on the economy!
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Dr fahad Jun 17, 2023 01:04pm
@Builder, go and build yourself car , Don't teach others
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Ali Jun 17, 2023 05:04pm
@Builder, Your only local invention is the lota.let alone a car locally.
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Ash Chak Jun 17, 2023 07:10pm
Bring out the bullock carts.
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Mubashar Mirza Jun 18, 2023 01:51am
All parts of all cars must be manufactured in Pakistan to avoid unnecessary financial burden on people of Pakistan and its institutions. Cats quality must improve with massive production on low cost. Price cut is key to success. High sales will increase the revenue. All car manufacturers should now move to Electric cars since beginning of July 2023
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Pankaj gupta Jun 18, 2023 03:38pm
@Mubashar Mirza, pak can not manufacture a needle, let alone car parts.
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Builder Jun 18, 2023 08:07pm
@Dr fahad, @Ali, Looks like you guys are employees of Suzuki. BTW, I'm an accomplished engineer, and yes, I can build a car better than these idiots. And what's wrong with making a lota? 8-)
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Builder Jun 18, 2023 08:08pm
@Pankaj gupta, yet another media warrior from India. Don't worry, we are following your trails!
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Awami Jun 18, 2023 11:25pm
@Builder, There need to rethink about free trade agreements carefully. For developing countries this can lead deindustrialization. Local small scale and medium scale industries will be liquidated or will become front for outsourcing foreign products. As young child need protection from parents, industry from developing countries need protection from cutthroat competition. Free trade with industrialized and very competitive China was short cut to deindustrialization.
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