HCAR plant shutdown continues: Production is delayed again

By MG News | April 28, 2023 at 12:04 PM GMT+05:00

0:00

April 28, 2023 (MLN): The management of Honda Atlas Cars (Pakistan) Ltd (PSX: HCAR) has decided to extend the plant shutdown till May 15, 2023, owing to the current economic situation of Pakistan whereby the government resorted to stringent measures including restricting the opening of LCs for import of CKD kits, raw materials and halting foreign payments.

Thus, the company's supply chain has also been severely disrupted by such measures.

As a result, the company is not in a position to continue with its production and ultimately has continued to shut down its plant.

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