INDU decides to halt production from March 24

MG News | March 24, 2023 at 09:23 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

March 24, 2023 (MLN): Indus Motor Company Limited (PSX: INDU), one of Pakistan's leading automotive manufacturers has decided to shut down its production plant from March 24, 2023, to March 27, 2023.

In a notification sent to PSX, the company said that the decision was made due to the company's inability to maintain sufficient inventory levels to sustain production.

The company has been facing multiple hurdles in importing raw materials and receiving clearance for their consignments from commercial banks.

The difficulties in opening letters of credit (LCs) for raw materials by banks have disrupted the supply chain of the company, making it impossible for its vendors to supply raw materials and components to the company, it added.

As a result, Indus Motor Company Ltd has been unable to continue its production activities.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	166,409.25 235.53M	-0.47% -784.19
ALLSHR	100,707.78 824.63M	-0.45% -457.17
KSE30	49,026.65 68.91M	-0.60% -294.03
KMI30	237,971.74 66.09M	-0.41% -986.42
KMIALLSHR	65,023.98 327.90M	-0.48% -312.08
BKTi	45,944.24 13.97M	-0.74% -340.31
OGTi	33,648.58 5.44M	-0.37% -124.48

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	78,320.00	78,700.00 76,820.00	1350.00 1.75%
BRENT CRUDE	111.40	112.41 111.15	-2.03 -1.79%
RICHARDS BAY COAL MONTHLY	134.00	0.00 0.00	0.75 0.56%
ROTTERDAM COAL MONTHLY	148.05	0.00 0.00	0.30 0.20%
USD RBD PALM OLEIN	1,182.50	1,182.50 1,182.50	0.00 0.00%
CRUDE OIL - WTI	102.03	102.75 101.82	-2.09 -2.01%
SUGAR #11 WORLD	19.37	0.00 0.00	0.01 0.05%