Pak Suzuki Extends Shut Down of Production Plant - Capital TV

June 4, 2023


Pak Suzuki Extends Shut Down of Production Plant

Anum Razzaque

KARACHI: Pakistan Suzuki Motor Company Limited (PSMCL) further extend its shutdown plan for the production plant subjected to the shortage of inventory.

According to the notification, “due to the shortage of inventory, the management of the company has decided to extend the shutdown of the Automobile Plant.”

“The plant will close from 16 January to 20 January 2023. However the motorcycle plant will remain operative,” stated the notification.

Following the strict letter of credit (LC) opening policy, the state bank had previously announced a shutdown of the production plant from 2-6 January, then 6-13 January, now announced the extension of further four days.

Meanwhile, the PSMCL is not the only country in Pakistan that has shut announced the shutdown of the plant.

Earlier, Pakistan-based tractor company Millat Tractor Limited (MTL) announced a shutdown.

“Due to, continuing reduced demand for tractors and casextendonstraints, the company will remain closed from Friday, January 6, 2023, till further notice,” the statement added.

The company had also sent a letter to the Pakistan stock exchange (PSX), amid the deteriorating situation of the economy companies are getting back their share from the stock market.

Furthermore, the biggest vehicle producer Indus motors company (IMC) says, “The delay in the approvals is creating hurdles for the company and its vendors against the import and clearance of consignments for raw materials and components of the company.”

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