Ghandhara Announces Plant Shutdown Schedule

The ongoing economic crisis continues to impact the auto industry as assemblers are forced to observe non-production days (NPDs) because of the inventory shortage due to the restrictions on imports imposed by the State Bank of Pakistan (SBP).

Now according to the latest notice sent to the Pakistan Stock Exchange (PSX), Ghandhara has announced to shut down its plant from 6th March to 10th March 2023. The company said that commercial banks are prioritizing essential imports only, which does not include the auto sector. Due to this the company and its vendors are facing major hurdles in importing raw materials & clearance of consignments from the port. This has resulted in severe disruption in the supply chain as the vendors are unable to supply raw materials and components to the company.

GNL Notice

Moreover, the company has also informed PSX that it has decided to start its production operations from the 13th of March 2023 on an alternative weekly basis until further notice.

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