Pak Suzuki announces plant shutdown again
- By Web Desk -
- Oct 24, 2023
Pak Suzuki Motor Company Ltd (PSMCL) has once again announced automobile and motorbike plant shutdown due to low inventory supply, ARY News reported on Tuesday.
According to Pak Suzuki’s announcement, due to a shortage of inventory level, the management of the company has decided to shut down motorcycle and automobile plants from November 1 to 3 and October 30 to November 3, respectively.
In the filing, Pak Suzuki said that the company’s imports adversely impacted clearance of import consignment which consequently affected inventory levels.
Read more: Indus Motor extends plant shutdown
In the fiscal year 2022-2023, due to a challenging environment, low consumer purchasing power, and an increase in duties and taxes by the government, the demand for the auto sector has continuously declined.
It is pertinent to mention here that Pakistan’s auto sector remains engulfed in various crises, with a number of automakers announcing complete or partial shutdowns in recent months citing various reasons.