Think about the automaker in Pakistan, definitely think
There is a fear of further downfall and this situation could prove disastrous for the industry, which is considered as the backbone of the Pakistani economy.
Have taken measures that are turning out to be a nightmare for the auto sector and its associated small businesses.
The previous government of the PML-N introduced an auto development policy which gave many benefits to the new companies coming into the country.
This led to a huge increase in foreign investment in the country as several European and Korean companies with green field status set up their production plants and started assembling vehicles here.
The current government has imposed heavy taxes and duties on vehicles, which has led to a huge increase in the cost of vehicles and resulted in a sharp drop in sales.
In case of further decline in auto sector sales, there will be a loss of Rs 225 billion annually.
Not only this, more than 18 million people are at risk of jobs due to worsening industry conditions.
According to the statistics of the Pakistan Automotive Manufacturers Association, sales of Pak Suzuki in July 2019 fell 23% compared to the same period last year.
The sales of his hand-sold car wagon R dropped 70 percent.
During this period, sales of Honda Atlas declined by 66% and Toyota Indies sales declined by 56%.