ISLAMABAD: An official of Pakistan ministry of industries has completely rejected the media reports that the import licenses of Suzuki, Honda, and Toyota have been canceled.
He added that the news circulating in media regarding the suspension of their licenses wasn’t true and that it was just the matter of revalidation of the import quota.
Several local news channels had wrongfully reported that the government had canceled the import licenses of three international car brands.
The official told a local media outlet the major issues were non-localization and no exports of a certain portion of their products required under Pakistan’s auto policy 2021-26.
The ministry of industries and production has been asked to extend, review, and revalidate the import quota of 11 auto manufacturers for a period of up to 90 days. Special Investment Facilitation Council (SIFC) has given the instructions.
Furthermore, the ministry has also been directed to cooperate with the auto manufacturers to make sure they adhere to the localization and export obligations.
Additionally, an official of the Engineering Development Board (EDB) also rejected media reports about the suspension of licenses. He said that the import quotas of the car manufactures were not revalidated after failing to meet the required targets.
