LOTCHEM temporarily suspends plant operations

MG News | March 14, 2023 at 03:32 PM GMT+05:00

0:00

March 14, 2023 (MLN): LOTTE Chemical Pakistan Ltd. (PSX: LOTCHEM) has temporarily suspended its plant operations starting from March 15, 2023, until further notice, the company's filing on PSX revealed today.

Due to the current economic situation in the country and its impact on the availability of foreign exchange reserves, the company is unable to continue its production activities.

This decision is a result of the inability of banks to open letters of credit for the import of raw materials.

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