Pak Suzuki has announced yet another extension of its plant shutdown due to insufficient inventory supply, the company recently informed the Pakistan Stock Exchange.
According to the filing, the State Bank of Pakistan’s requirement for prior approval for the import of specific HS codes, including completely knocked down (CKD) kits, “adversely impacted clearance of import consignment, which resultantly affected inventory levels.”
Pak Suzuki will now observe non-production days on September 8th and 9th as well. Last month, the company closed its plant on August 18 and 19, then from August 22 to August 26, and then from August 29 to August 31.
This means that only 12 production days were available between the 18th of August and the 9th of September 2022. The motorcycle plant, on the other hand, will continue to operate.
In May, the government imposed a ban on the import of non-essential and luxury items as part of a “emergency economic plan.”
The ban was later lifted in August, but Finance Minister Miftah Ismail stated that the automobile industry, among others, would be limited to importing half of what it used to for some time.
Nonetheless, Pak Suzuki recently resumed booking of a few selected models after suspending it on July 1st.
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