Pak Suzuki shuts down automobile, motorcycle plant again

KARACHI: Pak Suzuki Motor Company Ltd (PSMCL) has announced another shutdown of its automobile and motorcycle plant, citing ‘shortage of inventory level’, ARY News reported on Monday.

“Due to shortage of inventory level, the management of the company has decided to shut-down motorcycle and automobile plant from June 22, 2023 to July 08, 2023,” stated a notice sent to the Pakistan Stock Exchange (PSX).

Pak Suzuki, which is Pakistan’s largest carmaker by production and sales volume, said the decision was made due to the ongoing government import restrictions that have affected the auto sector, pushing a shortage of inventory.

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.

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’.

The car assembling company penned down a letter to Prime Minister (PM) Shehbaz Sharif and highlighted its “struggles and loses due to economic uncertainties in the country.

Read More: Pak Suzuki announces plant shutdown over ‘inventory shortage’

Pak Suzuki Motor, Head of Public Relations, Shafiq Ahmed Shaikh revealed that the company suffered massive losses of 12.9 billion in the first quarter of the current year due to economic uncertainties.

“The company has also been forced to observe numerous No Production Days each month throughout the year,” the letter stated, adding that the dire economic and business situation has also affected dealers and vendors, with some already closed and others on the verge of closure.

“As we are fighting for our survival, we request the Government not to impose any new duties and taxes in the upcoming federal budget 2023-24, specially on up to 1000cc vehicles, the product of the masses,” the letter concluded.

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