Pak Suzuki's expansion project awaits govt signal
KARACHI - Pak Suzuki waiting from official nod from the Pakistan Government to kick start their project worth of millions of dollars to cater the ever growing automobile demand in the country.
An official of Pak Suzuki told Dunya News that since long the company has been waiting to hear from the government to start work on their expansion plan.
The company plans to expand the production of vehicles in Pakistan for which around 80 acres of land has been acquired.
The investment portfolio would be around $460 million of this around $250 million would arrive in the shape of foreign direct investment while $210 million would be arranged by Pak Suzuki.
The official said that Standing Committee of Industries and Production and Federation of Pakistan Chamber of Commerce have also appreciated the new investment flow in the country as it would generate 3000 direct employment and 315000 indirect jobs.
Moreover, Pakistan Association of Automotive Parts and Accessories Manufacturers also supported the plan and Pak Suzuki recommendation that incentive for two years would be allowed to existing car manufacturers on the condition if they are setting up Greenfield plants to produce new models.
FPCCI in a letter to Miftah Ismail, chairman board of investment, urged the government that the submitted plan and proposed project of Pak Suzuki must be approved and two years incentives should be given to them through new green field or brown filed investment plan as it would definitely enhance the contribution in the national exchequer.
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