Pak Suzuki has increased the prices of its cars by up to Rs180,000, reported 24NewsHD TV channel on Saturday.

According to the spokesperson, on the one hand, the inflation rate is very high and on the other, the overhead expenses have also increased and in such a situation it was inevitable to increase the prices.

According to the new price list provided to the dealers, the price of the vehicles is being increased from Rs80,000 to Rs180,000. The new rates will be applicable from March 1, 2024.

The biggest increase has been in the price of Cultus AGS. After an increase of Rs180,000, this vehicle will now be available for more than Rs4.546 million.

According to company officials, the price of imported raw materials has increased and accessories are also becoming expensive with increasing of shipment costs.

High rate of inflation and overhead costs are also the reasons for the increase in prices.

Analysts say the price hike is to counter the negative impact of the hike in general sales tax from 18 percent to 25 percent on cars worth more than Rs4 million.

Remember that the government has announced an increase in general sales tax on vehicles up to 1400 cc from March 23. This time, vehicles worth more than Rs4 million have also been included. Culuts and certain Swift models also fall into this category.