According to Metis global news, the Board of Directors of Pak Suzuki Motor Company Limited (PSMCL) have recommended increasing the authorised share capital of the company from Rs. 1,500 million to Rs. 5,000 million. However, the decision is subjected to the approval by the shareholders in the forthcoming general meeting of the company.
The notification was issued on Friday where the Japanese automaker revealed its plan to establish second manufacturing plant at Port Qasim to increase the production capacity of Suzuki vehicles to 100,000 per year.
Pak Suzuki Motor Company Limited was established in1983 as a result of a joint venture agreement between Pakistan Automobile Corporation Limited (representing Government of Pakistan) and Suzuki Motor Corporation (SMC) Japan. The Company started commercial production the year later with the primary objective of manufacturing, assembling and marketing of cars, pickups and vans in Pakistan.
Over 70 percent of the company’s shares are held by Suzuki Motor Corporation, Japan while less than 5 percent of the shares are held by the local public.
by Aqsa Mirza