 received a letter on Friday stating: "Because of low stock levels){kind=link}
Pak Suzuki Motor Company’s (PSMC) motorcycle facility will undergo another closure from August 18 to August 31.
Pak Suzuki motorcycle plant shutdown: The Pakistan Stock Exchange (PSX) received a letter on Friday stating: “Because of low stock levels, the company’s management has resolved to temporarily close the motorcycle plant from August 18, 2023, to August 31, 2023.”
The auto facility will continue to run in the interim.
The Japanese carmaker has announced closures more than a dozen times so far this year. It announced last month that it would close its motorbike manufacturing on August 15th.
It also announced similar things in May and June, blaming a scarcity of raw materials.
High energy prices, political unrest, and the difficulty of obtaining letters of credit for imports due to a severe dollar shortage are just a few of the issues that businesses in Pakistan have been dealing with.
In response to a sharp decline in demand from vehicle manufacturers, Baluchistan Wheels, a manufacturer and marketer of automobile wheel rims for small cars, large buses, and trucks, stated a day ago that it will halt production for two weeks.
Analysts are concerned that the economic problems will continue to persist, even if a last-minute agreement on an IMF program grants the economy some breathing room. This is due to the unresolved underlying issues that cause the frequent boom-and-bust cycles.
In an attempt to safeguard its limited foreign exchange reserves, the government has been restricting imports since last year. These reserves were recently augmented through contributions from the IMF, Saudi Arabia, and the UAE.
Industrialists have expressed worry that it is difficult for them to secure import permits for their manufacturing needs, despite some constraints having lifted.