Karachi: Sazgar Engineering Works Limited has unveiled significant leadership changes and ambitious expansion plans, as disclosed in a recent announcement dated March 30, 2026. The company, which operates in the designated market category of automotive manufacturing, shared these developments following a Board of Directors meeting held on March 28, 2026.
The Board has appointed Mrs. Saira Asad Hameed as Chairperson, Mr. Mian Asad Hameed as Chief Executive, and Mr. Saeed Iqbal Khan and Mr. Mian Muhammad Ali Hameed as Executive Directors, each for a three-year term commencing from March 28, 2026. Mr. Mian Asad Hameed will receive a net monthly managerial remuneration of PKR 5.80 million, while Mr. Saeed Iqbal Khan and Mr. Mian Muhammad Ali Hameed will receive PKR 3.00 million and PKR 1.60 million respectively. Their remuneration packages include allowances, benefits, and potential annual increases of 15% or more as determined by the Board.
In addition to leadership appointments, Sazgar Engineering has completed its existing four-wheeler manufacturing expansion plan, costing PKR 11.50 billion. This includes a new assembly line, a 5.7-megawatt solar system, and new warehousing facilities. The first rollout of the CKD model “TANK-500 Hi4-T 4X4 2.0L Turbo AT PHEV and HEV” is scheduled for the end of March 2026.
The company has also approved a new expansion plan for a fully automatic paint shop facility, with an estimated budget of PKR 22.00 billion. This initiative aims to increase the production capacity of the four-wheelers plant to 54,000 units per annum on a single shift basis. According to information available from the Pakistan Stock Exchange (PSX), this expansion will be financed through internal cash generation and bank borrowing.
Furthermore, the Board has allocated PKR 4.00 billion for purchasing approximately 900 Kanals of land near the car plant, alongside a commercial plot of 5 Kanals at Pine Avenue, Lahore, for PKR 1.10 billion. This land acquisition is part of future expansion efforts and includes plans for a company-owned showroom, aftersales service facilities, and commercial offices.
The Chief Executive has been authorized to finalize negotiations and legal formalities for these land purchases.