HCAR extends shutdown till April 30

MG News | April 13, 2023 at 09:49 AM GMT+05:00

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April 12, 2023 (MLN): The management of Honda Atlas Cars (Pakistan) Limited (PSX: HCAR) has decided to extend the shutdown period of its plant from April 16, 2023, to April 30, 2023, the company’s filing on the bourse showed today.

To recall, on March 31, 2023, the company paused the operations of its plant on the back of the current economic situation of Pakistan whereby the Government resorted to stringent measures including restricting the opening of LCs for the import of CKD kits, raw materials, and halting the foreign payments.

Due to the aforesaid reasons, the company's supply chain has also been severely disrupted by such measures.

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