Pak Suzuki notifies 3-day shutdown

KARACHI: Pak Suzuki Motors has announced the closure of its production plant for three days in a bourse filing on Thursday.

The company said it would suspend its production for three days from October 24 to October 26, 2022.

The company said the State Bank of Pakistan (SBP) has introduced a mechanism for prior approval for import under the HS code 8703 category (including CKDs) through a circular on May 20, 2022. “Restrictions had adversely impacted clearance of import consignment which resultantly affected the inventory levels,” it said.

Therefore, “due to shortage of inventory level, the management of the company has decided to shutdown automobile plant from October 24, 2022, to October 26, 2022. However, the motorcycle plant will remain operative.”

The OEMs have been facing shorter production days due to a shortage of inventory.