Dewan Farooque Motors Limited (DFML) is likely to start its vehicle production in Pakistan from February 2018. It has received approval under Brownfield Category from the Engineering Development Board (EDB), as per to a stock exchange notice the company has sent on Friday. Dewan Farooque Motors Limited (DFML) had posted a loss following taxation of Rs. 12.36 million for the year ended June 30 2017, in relation to a loss of Rs. 43 million in the same period of the previous year.
The loss lessened by 71.28% as evaluated with last year’s loss. Loss per share (LPS) amounted to Rs. 0.10 from an LPS of Rs. 0.40 from previous year. Dewan Farooque Motors Limited is a Yousaf Dewan Motors (YDM) company which owns and runs a host of listed, unlisted and private companies.
YDM upholds strategic relationships with renowned international giants that take in: BMW Group of Germany, Mitsubishi Corporation and Mitsubishi Motors of Japan and a Korean Chemical Company.
Primarily, the company will re-launch its well-liked Shehzore’s one-ton rear-wheel pickup truck, that saw wonderful success in our market throughout the previous decade. Dewan also plans to roll out passenger cars and a Sports Utility Vehicle (SUV) following the re-launch of Shehzore.
Dewan Farooque Motors is persistent to the scene with a manufacturing agreement with Daehan-Dewan Motor Company Private Limited – a joint venture among Dewan Yousuf Companies and the Laos-based Kolao Group.
In mid-2016, the company applied for resuming vehicle production by pursuing its application to the Board of Investment (BoI) and the EDB. Afterwards, in September 2016 it announced that it would begin production of vehicles by the end of October 2016. Dewan Motors has also been testing the Ssangyong Tivoli and XLV as these vehicles have been spotted fairly a few times on our roads previously.
