As import limitations continue to affect the car industry, Pak Suzuki Motor Company (PSMC) announced on Monday that it is prolonging the closure of its motorbike factory until April 15 and halting operations at its automotive plant from April 7 to April 14.
The business informed the Pakistan Stock Exchange of the development in a notification. (PSX).
The notification stated that the company’s management had chosen to prolong the motorbike plant’s shutdown time until April 15, 2023 due to a shortage of inventory.
Due to a lack of supplies, the auto factory will also be closed on April 7 and April 14, 2023, it was noted.
Suzuki bikes, cars, pickup trucks, vans, 4x4s, and other vehicles are locally assembled, produced, and marketed by PMSC along with any necessary replacement components. The Suzuki nameplate is Japanese.
The car industry in Pakistan is still struggling with numerous problems. Other publicly traded firms, such as Indus Motor Company Limited and Honda Atlas Cars, were also forced to halt production in recent months as a result of the economic downturn, which saw the foreign exchange reserves of the central bank fall to a level barely sufficient to cover four weeks’ worth of imports, prompting the government to impose import restrictions.