Meezan Bank, Pak Suzuki sign accord

KARACHI: Pak Suzuki Motor Company signed an agreement with Karandaaz Pakistan and Meezan Bank to provide financial access to small and medium automotive part vendors in the country, a statement said on Tuesday.  

“This tripartite agreement forms part of the $50 million corporate vendor and distributor finance programme launched recently by Karandaaz Pakistan and Meezan Bank,” said the statement.

Hirofumi Nagao, Managing Director at Pak Suzuki Motor said timing of this programme is opportune since after a period of eight years, the automobile industry is again showing positive signs.

“I believe that this program will help local industry players in upgrading their facilities to respond to the increasing demand,” the statement quoted Nagao as saying.