January 30, 2020 (MLN): Pak Suzuki Motor Company Limited (PSMC) has notified the Pakistan Stock Exchange that it will keep its production operation of the automobile segment closed on February 3, 4 and 10.
Earlier this month, the company had observed four non-production days owing to the piling up of inventory and depressed demand.
It may be interesting to note that the company has, perhaps for the first time, informed PSX about this decision. While it is a part of the routine for Auto Companies to observe non-production days, the information about the same was only conveyed to vendors in the past.
Regarding this, the company had also issued a clarification stating that the shutting down of the plant had nothing to do with the performance of the company as it was a part of the day to day operations, and therefore, it was not necessarily a ‘price-sensitive information’.
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