Pak Suzuki extends automobile plant shutdown

Pak Suzuki Motor Co Ltd (PSMC) on Wednesday extended the closure of its automobile and bike plant by another week citing “continued shortage of inventory level”.

“Due to continued shortage of inventory level, the management of the company has decided to extend the shutdown of automobile and motorcycle plant till July 15, 2023,” the PSMC company secretary informed in the notice.

The decision came as a result of a persistent shortage of raw materials, which was communicated in a statement released to the Pakistan Stock Exchange (PSX) on Tuesday.

In an earlier notification on June 19, the company had announced production cuts from June 22 to July 08, 2023, which it has now extended till July 15.

Earlier, Pak Suzuki urged Prime Minister (PM) Shehbaz Sharif not to impose “new duties and taxes” in the upcoming budget 2023-24, highlighting its struggles and loses due to ‘economic uncertainties’.