Pak Suzuki announces shutting down production plant

KARACHI: Another automobile company Pak Suzuki Motor Company Limited has announced to shut down its production plant from January 2 to 6, ARY News reported on Monday

Pakistan Suzuki Motors wrote a letter to the Pakistan Stock Exchange (PSX) that the production process of cars and motorcycles will be completely shut down from January 2 to 6.

According to the automobile company, the management decided the shut down due to conditional permission of the imports of the auto parts and completely knocked down (CKD) kits. The firm stated that its supply chain is affecting due to restriction of the State Bank of Pakistan (SBP).

The export consignments are affecting due to the conditional permission, said the company, adding that the restriction damaged the inventory.

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Earlier in the month, Indus Motor Company (IMC) had announced to shut down its manufacturing plant for 10 days due to the imposition of a ban on the imports of completely knocked down (CKD) kits by the central bank.

The Indus Motor Company, the maker of Toyota vehicles, announced to shut down its manufacturing plant for 10 days from December 20 to 30.

It stated that the decision was taken after a ban on the imports of completely knocked down (CKD) kits by the State Bank of Pakistan (SBP).

The import restrictions increased difficulties of the automobile manufacturing due to a shortage of the raw material essential to run manufacturing plants on a daily basis.