PAK Suzuki extends shutdown of automobile plant

MG News | January 06, 2023 at 04:59 PM GMT+05:00

0:00

January 06, 2023 (MLN): The Pak Suzuki Motor Company Limited (PSMC) has extended the date for shut down of automobile plant from January 09, 2023 to January 13, 2023, however, motorcycle plant will remain operative, a report issued by company to PSX on Friday showed.

On December 26, 2022 the company announced temporarily shutdown of its automobile plant from January 2, 2023 to January 6, 2023 due to shortage of inventory level.

To note, the State Bank of Pakistan (SBP) has introduced a mechanism, for obtaining prior approval for imports of CKD

These restrictions had adversely impacted clearance of import consignment which resultantly affected the inventory levels.

At the time of writing, the scrip of the company is being traded at Rs140.87, which is down by Rs1.30 or 0.91% DoD.

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