KARACHI: The Indus Motor Company (IMC) Limited, a prominent auto assembler in Pakistan, has shut its production plant till November 17, 2023.
In a formal communication addressed to the General Manager of the Pakistan Stock Exchange Limited issued on October 16, the IMC disclosed this material information in accordance with Section 96 and 131 of the Securities Act 2015 and Clause 5.6.1 (a) of PSX Regulations.
The disclosure explained that due to the existing level of inventory of manufactured vehicles and parts shortage due to supply chain challenges, the company has ceased production at its plant from October 17, 2023, to November 17, 2023, inclusively. The company emphasized that any changes to this plan would be duly updated.
Copyright Business Recorder, 2023
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