Pak Suzuki has informed the Pakistan Stock Exchange (PSX) that it will observe non-production days (NPDs) on the 18th and 19th of August due to the depleted inventory levels.
According to the company, the State Bank of Pakistan’s import restrictions on CKD units is the main reason for the inventory shortfall. The company may have to observe more NPDs if the situation persists.
Related: GPCCI Urges to Lift Import Ban on Automobiles
Pak Suzuki’s public relations head Shafiq Ahmed Shaikh have said earlier that their company had already stopped booking of vehicles from 1st July due to an expected reduction in the number of production days in August. According to Shafiq:
“Currently the commercial banks were not opening letters of credit for completely knocked down (CKD) kits. Unavailability of CKD kits and related raw materials may result in plant shutdown next month.”
The company which saw a dreadful period in July 2022 with sales declining by nearly 47% has also recently announced to slash the prices of its cars in wake of appreciating Rupee value against the US Dollar.
A computer animation professional with over 23 years of industry experience having served in leading organizations, TV channels & production facilities in Pakistan. An avid car enthusiast and petrolhead with an affection to deliver quality content to help shape opinions. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com
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