ISLAMABAD: An attached department of the Ministry of Industries and Production, Engineering Development Board (EDB) has suspended the manufacturing licenses of three automobile companies.
Sources inside the ministry reported that the car manufacturers have reportedly violated a number of conditions of the auto policy due to which their licenses have been suspended. These manufacturers are the biggest automobile manufacturers of Pakistan namely, Pak Suzuki Motor Company, Honda Atlas Cars Pakistan, and Indus Motor Company Limited (Toyota).
The manufacturers are not fulfilling localization conditions as they have not increased local production of vehicles under the auto policy.
According to the auto policy, automakers are bound to produce auto as well as spare parts locally. Moreover, car manufacturers are bound to export two percent of vehicles in 2023, 4 percent in 2024, 7 percent in 2025 and 10 percent by 2026,.
Not only are these manufacturers not producing spare parts, they have also not fulfilled the 2% export requirement.
Sources said that there may be some relaxation if car manufacturers provide written assurances of auto policy enforcement.
A senior official of EDB on the condition of anonymity said that the EDB cannot suspend the current licenses for long. Companies have already applied for the renewal of their licenses and the process will be completed in two to three days upon provision of written assurances.
Great post! I am actually getting ready to across this information, is very helpful my friend. Also great blog here with all of the valuable information you have. Keep up the good work you are doing here.
You completely match our expectation and the variety of our information.
Wow what a Great Information about World Day its exceptionally pleasant educational post. a debt of gratitude is in order for the post.
I have express a few of the articles on your website now, and I really like your style of blogging. I added it to my favorite’s blog site list and will be checking back soon…
Nice blog. Found this while searching through
Thanks for this post, I am a big fan of this web site would like to proceed updated.