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Business & Finance Print edition: 2023-03-15

Lotte Chemical to suspend plant operations today

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KARACHI: The Lotte Chemical Pakistan Limited has decided to temporarily suspend its plant operations from Wednesday (today) till further notice.

“Due to current economic situation prevalent in the country in relation to the foreign exchange reserves and its impact on the ability of banks to open letter of credit for import of raw materials, the company is unable to continue its production activities,” material information sent to the Pakistan Stock Exchange on Tuesday said.

Therefore, the company has decided to temporarily suspend its plant operations from March 15, 2023 till further notice, it added.

Copyright Business Recorder, 2023

foreign exchange reserves Lotte Chemical Pakistan Limited

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