Jun 05 - Jun
11, 2000
Pak Suzuki Motor Company Limited (PSMC) a subsidiary of Suzuki Motor
Corporation Japan has the distinction of being the first overseas Suzuki Plant to produce
Suzuki vehicles outside Japan. Pakistan was the first country selected by Suzuki Motor
Corporation Japan for production of 4x4 vehicles that started in 1975.
Pak Suzuki Motor Company Limited is a public limited company with its
shares quoted on Stock Exchanges in Pakistan. The Company was formed in August 1983 in
accordance with the terms of joint venture agreement concluded between Pakistan Automobile
Corporation Limited (PACO), representing Government of Pakistan and Suzuki Motor
Corporation (SMC) — Japan. The company started commercial operations in January 1984
with the primary objective of manufacturing, assembling and marketing of Cars, Pickups,
Vans and 4x4 vehicles in Pakistan.
By early 1990, on the completion of the first phase of this plant,
in-house assembly of all Suzuki engines started. In 1992 the plant was completed and
production of the Margalla car commenced. Presently the entire range of Suzuki products
currently marketed in Pakistan are being produced at this plant.
At the time of privatization, Suzuki Motor Corporation (SMC) increased
its equity from 25% to 40%. Subsequently, SMC progressively increased its equity to 72.8%
by purchasing remaining shares from PACO. The total foreign investment brought in by
SMC-Japan since inception stands at Rs. 1026.36 million.
The Suzuki management, immediately after privatization, started
expansion of the Bin Qasim Plant to increase its installed capacity to 50,000 vehicles per
year. The expansion was completed in July 1994. Keeping in view the company's long term
plans which also include tapping of export markets, the company has acquired additional
land measuring about 30 acres from Pakistan Steel Mills Corporation in proximity to its
Bin Qasim Plant to setup production facilities for the manufacture of some local
components.
The Company continues to be in the forefront of the automobile industry
of Pakistan. Over a period time, the company has developed an effective and comprehensive
network of sales service and spare parts dealers who cater to the needs of customers and
render effective after sales service country wide, PSMC is serviced by over 180 active
vendors who are engaged in the local manufacture and supply of automotive parts to the
Company.
The Company is strictly adhering to the deletion targets set by the
Engineering Development Board/Ministry of Industries, Company's resolve and commitment of
localization is evidenced with the achievement of high deletion levels in the Mehran Car,
Ravi Pickup, Bolan Van and Khyber car. Industry level deletion has been achieved in the
recently introduced Baleno Car.
The Company's contribution to the public exchequer has been very
substantial. The duties and taxes paid and foreign exchange saved by Company in its last
five years of operation are as follows:
