KARACHI: Shrugging off the government’s warning on the frequent increases in automobile prices, Pak Suzuki Motor Company Ltd (PSMCL) on Tuesday again jacked up its rates by Rs40,000-129,000 with immediate effect.

The Engineering Development Board (EDB), a strong arm of the Ministry of Industries and Production, warned the auto assemblers that the government is extremely concerned and has taken a very serious view about the frequent price hikes by the local assemblers.

This situation is unacceptable and the government may consider initiating regulatory measures which may include fixing prices under the Price Control Prevention of Profiteering and Hoarding Act 1977, the EDB said.

The EDB has asked the assemblers to share their cost structure and provide justification for recent price increases.

Before this, the government had been warning the assemblers over frequent price increases as well as price-fixing threats since August 2021 but so far no practical steps had been taken to control the price hike by the assemblers.

As per the letter of Pak Suzuki issued to its authorised dealers, the revised price of Suzuki Alto VX, VXR and VXR AGS is Rs1.475m, Rs1.733m and Rs1.951m while the WagonR VXR, VXL and RAGS models now carry a new price of Rs2.084m, Rs2.199m and Rs2.399m.

The new prices of Cultus VXR, VXL and AGS modes are Rs2.330m, Rs2.564m and Rs2.762m while Swift GL MT, GL CVT and GLX CVT are now tagged at Rs2.774m, Rs2.998m and Rs3.298m.

Bolan Van, Bolan Cargo and Bolan AC are now priced at Rs 1.328m, Rs1.315m and Rs1.415m while the new prices of Ravi and Ravi without deck are Rs1.256m and Rs1.181m.

The company in its circular had not given any reason for the price hike.

Published in Dawn, May 11th, 2022