The Pakistan Stock Exchange (PSX) has been informed by Pak Suzuki Motor Company (PSMC) that the company would observe non-production days (NDPs) from October 24 to October 26.
The State Bank of Pakistan’s (SBP) ongoing administrative control of the import of completely-knocked-down (CKD) kits has been cited by the corporation as the reason for its decision. But the PSCM motorbike facility will continue to run.
The majority of this summer was occupied by non-production days (NPD), which culminated in the announcement of PSMC’s sixth production halt since August. PSMC is Pakistan’s largest automaker by sales volume. From August 18 to August 19, from August 22 to August 26, from August 29 to August 31, from September 6 to September 9, from September 19 to September 23, and from October 19 to October 21, work had previously been interrupted.
The SBP is solely to fault, according to PSMC. This problem first surfaced in June when the central bank attempted to stop the flow of foreign exchange by limiting imports of the CKD kits used to manufacture vehicles. One of the problems that the chronic NPDs have brought about is that they have made the destruction of demand in the auto sector worse. Customers who continue to try to buy automobiles in 2022 despite the large price rises will experience exorbitantly long wait periods and consequent on-premiums.
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