PSMC announces shutdown of automobile plant

By MG News | October 20, 2022 at 03:44 PM GMT+05:00

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October 20, 2022 (MLN): Pak Suzuki Motors Company (PSMC) board of directors has decided to shut down the automobile plant for the period extending from 24TH Oct-22 to 26th Oct-22, the company’s filings on the stock exchange showed on Thursday.

“Restrictions by the State Bank of Pakistan (SBP) had adversely impacted the clearance of import consignment which resultantly affected the inventory levels”, the report added.

Since August, PSMC the largest car manufacturer by sales volume has suffered non-production days, resulting in an eighth production shutdown.

The company had previously halted production from Aug 18 to Aug 19, Aug 22 to Aug 26, Aug 29 to Aug 31, Sep 8 to Sep 9, Sep 19 to Sep 23, and Oct 19 to Oct21.

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