Pak Suzuki Further Extends Plant Shutdown

Pak Suzuki has once again announced to extend its plant shutdown due to low inventory supply, the company recently informed the Pakistan Stock Exchange.

In the filing, the company said the State Bank of Pakistan’s condition requiring prior approval for the import of specific HS codes, including completely knocked down (CKD) kits, had “adversely impacted clearance of import consignment which resultantly affected inventory levels”.

Pak Suzuki will now observe non-production days on the 8th and 9th of September as well. Last month, the company kept its plant shut from 18 & 19, then from 22nd to 26th, and then 29th to 31st August. This means there were only 12 production days out of around twenty days between 18th August and 9th September 2022. The motorcycle plant, however, will remain operational.

The government had imposed a ban on the import of non-essential and luxury items under an “emergency economic plan” in May. The ban was subsequently lifted in August but Finance Minister Miftah Ismail had said the automobile sector, among others, would only be allowed to import half of what it used to earlier for some time. Still, Pak Suzuki recently resumed the booking of a few selected models after suspending it from 1st July onwards.

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