Pak Suzuki Motor Company’s (PSMU) has shut down its motorbike production for 12 days due to lack of inventory as a crucial factor.
The Pakistan Stock Exchange received information that the country’s administration has chosen to shut down the motorbike manufacturing from March 20 to March 31 due to low inventory levels. The two-wheel manufacturer did, however, make it clear that the automotive facility would continue to run.
The business assembles, manufactures, markets, and distributes Suzuki automobiles, pickup trucks, vans, 4x4s, motorcycles, and associated spare parts locally. The Suzuki brand, on the other hand, is Japanese.
The PSMC briefly closed its car manufacturing last month from February 13 to February 17 and then again from February 20 to February 21 due to an inventory shortfall.
The business had argued at the time that the State Bank of Pakistan’s (SBP) procedure for prior authorization for imports “adversely impacted clearance of import consignment which resultantly damaged the inventory levels”.
Due to the SBP’s limits on obtaining letters of credit following relentless currency depreciation, Pakistan’s auto sector, which is heavily dependent on imports, is in crisis (LCs). Because the nation’s reserves remained low, industries are experiencing operational challenges.