PSMC extends shutdown period of automobile plant

News Image

MG News | August 18, 2022 at 02:35 PM GMT+05:00

0:00

August 18, 2022 (MLN): Pak Suzuki Motor Company Limited (PSMC) has decided to further extend the shutdown period of the automobile plant from August 22, 2022 to August 26, 2022.

Earlier this week, the company informed through a notice to PSX that it decided to temporarily shut down its production plant of automobile products from August 18, 2022, to August 19, 2022, due to the restrictions imposed by the State Bank of Pakistan (SBP) on CKD imports.

To note, on May 20, 2022, SBP had introduced a mechanism for prior approval for import under HS code 8703 category (including CKDs) vide circular No.09 of 2022.

According to the notice issued to PSX today, the restrictions had adversely impacted clearance of import consignment which resultantly affected the inventory levels.

Therefore, the senior management of the company took this decision due to a shortage of inventory levels.

However, the motorcycle plant will remain operative, it added.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 136,379.97
273.10M
0.32%
440.10
ALLSHR 84,648.35
701.94M
0.06%
47.97
KSE30 41,546.23
70.12M
0.42%
172.55
KMI30 191,719.76
71.30M
0.34%
649.79
KMIALLSHR 55,827.74
371.98M
0.16%
89.67
BKTi 37,827.61
18.93M
-1.72%
-662.14
OGTi 27,670.67
7.41M
-0.42%
-117.47
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 119,185.00 119,660.00
117,255.00
2445.00
2.09%
BRENT CRUDE 68.15 69.09
68.10
-0.56
-0.82%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
1.80
1.90%
ROTTERDAM COAL MONTHLY 104.50 0.00
0.00
-1.05
-0.99%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 65.88 67.01
65.86
-0.64
-0.96%
SUGAR #11 WORLD 16.61 16.65
16.55
0.05
0.30%

Chart of the Day


Latest News
July 16, 2025 at 04:06 PM GMT+05:00

PSX Closing Bell: On the Rise


July 16, 2025 at 03:54 PM GMT+05:00

MTL expected to climb to Rs650/share by Dec 2025


July 16, 2025 at 03:52 PM GMT+05:00

PKR falls 29 paisa against USD


July 16, 2025 at 03:44 PM GMT+05:00

Govt to shut down Utility Stores by July 31


July 16, 2025 at 03:26 PM GMT+05:00

Oil prices steady amid mixed global signals



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg