Pak Suzuki halts production due to inventory shortage

MG News | October 24, 2023 at 10:45 AM GMT+05:00

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October 24, 2023 (MLN): Owing to the shortage of inventory level, Pak Suzuki Motor Company Limited (PSX: PSMC) has officially extended the shutdown of its automobile plant from October 30, 2023, to November 3, 2023, the company's filing on PSX revealed today.

In addition to the automobile plant, PSMC has also decided to temporarily close the operations of its Motorcycle plant from November 01 to November 03, 2023.

It is important to mention that on October 18, the company closed its automobile plant from October 25 to October 27, 2023.

While during this period, the Motorcycle plant of PSMC was operative.

The company is engaged in the assembling, progressive manufacturing, and marketing of Suzuki cars, pickups, vans, 4x4s motorcycles, and related spare parts.

At the time of writing, the scrip of the company is being traded at Rs255.84, up by Rs17.85 or 7.50% compared to the previous close.

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