KARACHI: Pakistan Suzuki on Monday decided to shut down its plant from January 02, 2023 till January 06, 2023.
In an information sent to Pakistan Stock Exchange (PSX), Pak Suzuki Motors Company Limited stated that as explained earlier letter communicated on August 16, 2022 on the issue of plant shutdown that the State Bank of Pakistan (SBP) had introduced a mechanism for prior approval for import under HS Code 8703 category (including CKDs) through circular No. 09 of 2022 dated May 20, 2022.
“Restriction 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 shut down its plant for automobile as well as motorcycle for period from January 02, 2023 to January 06, 2023,” it added.
The company said that further update, if any, in this regard will be communicated accordingly.
