INDUS Motor shuts down plant amid supply chain disruption

MG News | January 31, 2023 at 01:56 PM GMT+05:00

0:00

January 31, 2023 (MLN): The Indus Motor Company Limited (INDU) has decided to completely shut down its Plant from February 1, 2023, to February 14, 2023, amid supply chain disruptions, a notice issued by the company to PSX on Tuesday showed.

To note, recently SBP in its circular advised commercial banks to facilitate the imports to specified sectors only, which does not include the auto sector.

The company and its vendors are facing major hurdles in the import of raw materials and receiving clearance for their consignments from commercial banks.

This has disrupted the entire supply chain and the vendors are unable to supply raw materials and components to the company.

Accordingly, the company has insufficient inventory levels and is unable to continue its production activities, the notification read.

Moreover, the company has also decided to start its production on a Single Shift basis from February 15, 2023, until further notice.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	164,742.47 209.98M	0.48% 793.53
ALLSHR	98,589.92 450.95M	0.48% 474.85
KSE30	49,491.50 133.46M	0.19% 94.73
KMI30	236,551.09 105.86M	0.50% 1183.41
KMIALLSHR	63,969.63 225.40M	0.51% 323.99
BKTi	45,608.79 57.44M	-0.05% -22.71
OGTi	34,036.45 10.66M	1.75% 586.92

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	81,235.00	81,910.00 81,005.00	-710.00 -0.87%
BRENT CRUDE	110.31	114.44 109.60	-4.13 -3.61%
RICHARDS BAY COAL MONTHLY	114.00	114.00 114.00	1.30 1.15%
ROTTERDAM COAL MONTHLY	110.65	112.00 109.50	1.45 1.33%
USD RBD PALM OLEIN	1,191.50	1,191.50 1,191.50	0.00 0.00%
CRUDE OIL - WTI	100.02	102.70 99.12	-2.25 -2.20%
SUGAR #11 WORLD	15.37	15.49 15.21	0.08 0.52%