Pak Suzuki stops production for three days – Financeupdates

• Operations suspended from October 24 to October 26.
• Pak Suzuki’s motorcycle plant will remain functional.
• Company says reduction in inventory reason for closure. 

KARACHI: Pak Suzuki Motors on Thursday announced that it would be stopping its production for three days in a bourse filing, The News reported.

The automobile company said that the operations at the automobile plant would be suspended from October 24 to October 26, 2022. 

The State Bank of Pakistan (SBP) has introduced a mechanism for prior approval for import under the HS code 8703 category (including CKDs) through a circular on May 20, 2022, said the company. 

“Restrictions had adversely impacted clearance of import consignment which resultantly affected the inventory levels,” it said.

Therefore, “due to shortage of inventory level, the management of the company has decided to shutdown automobile plant from October 24, 2022, to October 26, 2022. However, the motorcycle plant will remain operative.”

The OEMs have been facing shorter production days due to a shortage of inventory.

The company had announced the closure of its production last month from September 8-9.