KARACHI, Feb 1: Pak Suzuki Motor Company Limited and Honda Atlas Cars have also increased the prices by Rs5,000-15,000 and Rs 39,000-40,000 respectively on their different models from February 1, 2005.

A month back, Indus Motor Company and Dewan Farooqui Motors had increased the prices of their vehicles. An official in Pak Suzuki said that the company had not raised the prices of its petrol version models.

Quoting his official circular, he linked the price hike to yen and euro appreciation against the rupee in the last one year followed increase in steel sheets, paint and allied material prices.

He said that the new prices will not be applicable on those previous or pending orders that had been placed prior to February 1, 2005. He said that the production of Suzuki cars had remained suspended from January 9 to 25 due to plant capacity expansion.

The official said that the company is expecting a production of 82,000 vehicles in 2005 as compared to 65,000 units in 2004 after the expansion. Meanwhile, the chairman All Pakistan Motors Dealers Association (APMDA), H.M Shahzad claimed that the Pak Suzuki had increased the prices by Rs5,000-20,000 instead of Rs5,000-15,000 as informed by Pak Suzuki official.

He urged the prime minister to issue instructions to the auto assemblers for reversal of prices to old levels. He said that price hike is unjustified as the Japanese companies had reduced the rates of CKD kits in Japan. He said premiums on locally assembled cars had been flying high for the last two years despite assemblers' tall claims of increasing plant capacity.