AIRLINK 145.00 Increased By ▲ 0.50 (0.35%)
BOP 10.17 Increased By ▲ 0.01 (0.1%)
CNERGY 7.20 Increased By ▲ 0.02 (0.28%)
CPHL 81.85 Increased By ▲ 0.45 (0.55%)
FCCL 44.85 Increased By ▲ 0.10 (0.22%)
FFL 15.05 Decreased By ▼ -0.05 (-0.33%)
FLYNG 53.75 Increased By ▲ 0.84 (1.59%)
HUBC 134.01 Decreased By ▼ -0.34 (-0.25%)
HUMNL 11.03 Decreased By ▼ -0.03 (-0.27%)
KEL 5.09 Increased By ▲ 0.04 (0.79%)
KOSM 5.59 Decreased By ▼ -0.01 (-0.18%)
MLCF 79.62 Increased By ▲ 0.12 (0.15%)
OGDC 211.75 Increased By ▲ 0.95 (0.45%)
PACE 5.80 Increased By ▲ 0.10 (1.75%)
PAEL 39.32 Decreased By ▼ -0.28 (-0.71%)
PIAHCLA 22.20 Increased By ▲ 0.50 (2.3%)
PIBTL 8.20 Increased By ▲ 0.05 (0.61%)
POWER 13.69 Increased By ▲ 0.19 (1.41%)
PPL 163.20 Increased By ▲ 1.20 (0.74%)
PRL 32.40 Increased By ▲ 0.20 (0.62%)
PTC 24.10 Increased By ▲ 0.65 (2.77%)
SEARL 84.50 No Change ▼ 0.00 (0%)
SSGC 43.45 Increased By ▲ 0.39 (0.91%)
SYM 14.60 Increased By ▲ 0.15 (1.04%)
TELE 7.58 Increased By ▲ 0.09 (1.2%)
TPLP 9.42 Increased By ▲ 0.03 (0.32%)
TRG 61.99 Increased By ▲ 0.39 (0.63%)
WAVESAPP 9.00 Decreased By ▼ -0.14 (-1.53%)
WTL 1.51 Increased By ▲ 0.02 (1.34%)
YOUW 4.65 Increased By ▲ 0.20 (4.49%)
BR100 12,963 Increased By 40.2 (0.31%)
BR30 37,145 Increased By 171.6 (0.46%)
KSE100 120,407 Increased By 404 (0.34%)
KSE30 36,544 Increased By 102.4 (0.28%)

Pak Suzuki Motor Company (PSMC) on Friday announced extending the shutdown of its automobile plant from February 20 to February 21 as it deals with inventory shortage due to import restrictions.

“Due to continued shortage of inventory level, the management of the company has decided to extend the shutdown of automobile plant from February 20, 2023 to February 21, 2023,” read a notice sent to the Pakistan Stock Exchange (PSX).

The note added that its motorcycle plant will remain operational.

PMSC is the local assembler, manufacturer and marketer of Suzuki cars, pickups, vans, 4x4s and motorcycles as well as related spare parts. The Suzuki brand itself is from Japan.

Earlier this month, PSMC had announced the temporary shutdown of its plant from February 13 to 17, citing an inventory shortage back then as well.

PSMC had said at the time that the State Bank of Pakistan’s (SBP) mechanism for prior approval for imports “adversely impacted clearance of import consignment which resultantly affected the inventory levels”.

PSMC had also said it will suspend taking new bookings for its motorcycles starting January 20 for an indefinite period due to “import-based supply chain constraints and uncertain production possibilities”.

Pak Suzuki raises car prices for second time in a month

Bookings will resume as the situation becomes favourable to serve fresh customers, it said.

Pakistan’s auto industry, highly dependent on imports, has been caught in the midst of a crisis, as the SBP, after unabated rupee depreciation, imposed restrictions on the opening of Letters of Credit (LCs). Industries are facing hindrances in operations as the country’s reserves have depleted to a critical level.

Comments

Comments are closed.

SAQIB NAWAZ Feb 17, 2023 07:24pm
Well done
thumb_up Recommended (0)