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KSB Pumps Company Limited (KSBP), a manufacturer of industrial pumps, has announced to suspend plant operations from January 02, 2023, citing import restrictions.

The company, a subsidiary of KSB SE & Co. KGaA, shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday.

“Due to import restrictions, KSB Pakistan has temporarily suspended plant operations at Hasanabdal till further notice with effect from January 02, 2023,” said the company, principally engaged in the manufacturing and sale of industrial pumps, valves, castings and related parts and aftermarket services.

The development comes as Pakistan remains embedded in multiple challenges including rising debt, low foreign exchange reserves, and energy shortage.

Meanwhile, the State Bank of Pakistan (SBP), after unabated rupee depreciation, imposed restrictions on the opening of Letters of Credit (LCs). It has recently rolled back the restrictions subject to Pakistan’s foreign exchange position, which has weakened further in recent weeks.

On Friday, Suraj Cotton Mills Limited (SURC), a textile manufacturer, announced to curtail its production by 40%. Baluchistan Wheels Limited (BWHL), an auto parts maker, also extended the closure of production activities till January 6, citing depressed demand.

Last week, textile giant Nishat Chunian Limited (NCL) announced that it will partially shut down its spindles from January, citing market conditions.

The textile manufacturer informed the bourse that the spindles would restart operations after improvement in market conditions.

Last month, Pak Suzuki Motor Company Limited (PSMCL) announced a complete shut off its plant for both automobiles and motorcycles from January 2, 2023, to January 6, 2023, due to an inventory shortage.

Comments

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Notsurprised Jan 02, 2023 05:07pm
KSB has been in operation for decades. What is in a pump that they cannot produce locally? Shame on KSB.
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Aurangzaib Jan 02, 2023 06:38pm
@Notsurprised, exactly all local manufacturers are same they are just doing assembly or some kind of casting only and earning the money as trades.
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Muhammad Aumair Jan 02, 2023 09:38pm
Rona duna shuru why APTMA manupulate government and misused refinance and DLTL scheme please request DLTL scheme as stop Allah karay start na hu again
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Az_Iz Jan 03, 2023 08:19am
Maybe they just make the casings and everything else is imported. Can the country not produce a pump without imports.
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Az_Iz Jan 03, 2023 08:21am
The country gets by with imports and consumption. How far can it progress, with this model.
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TimeToMovveOn Jan 03, 2023 06:27pm
A pump is a very simple machine. Countires have been producing it for decades. Bad economic incentives are forcing people to import parts for pumps.
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