Pak Suzuki Motor Company (PSMC) has been forced to suspend motorcycle assembly for a period of 5 days due to the ongoing economic crisis. The company is facing inventory shortages, leading to a temporary shutdown.
According to an official notification, the suspension of motorcycle assembly will take place from June 12 to June 16. The fluctuating dollar rate is further adding to Suzuki’s challenges, potentially leading to price hikes once production resumes.
The situation is also worrisome for parts makers in the industry. The government has imposed a 35% customs duty on the import of car components, irrespective of their complexity or significance. This high duty on basic components is expected to hinder price control efforts and pose significant challenges for parts importers.
The car and motorcycle production sectors are likely to continue facing difficulties as the 2023-24 fiscal budget offers little support for the industry. The budget document reveals a substantial customs duty on various car components, further impacting the overall production and affordability of vehicles.
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