Indus Motor halts production on supply chain woes

MG News | March 06, 2024 at 09:44 AM GMT+05:00

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March 06, 2024 (MLN): The management of Indus Motor Company Limited (PSX: INDU) decided to close its production plant from March 6, 2024, to March 11, 2024, the company’s filing on PSX revealed today.

This is due to the low inventory level of manufactured vehicles, and shortage of parts and components for manufacturing of vehicles as a result of supply chain challenges.

“In case of any change in plan, it will be updated accordingly,” the notification reads.

Earlier in October 2023, the company had to shut down its production plant from October 17 to November 17, 2023, due to the same reasons.

At the time of writing, the scrip of the company is being traded at Rs1,559, up by Rs5.55 or 0.36% compared to the previous close.

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