KARACHI: Pak Suzuki has announced a temporary shutdown of its production plant due restriction on imports imposed by the government.
In a letter to the Pakistan Stock Exchange (PSX) on Tuesday, Pak Suzuki Motor Co. Limited said that State Bank of Pakistan (SBP) had introduced a mechanism for prior approval for import under HS Code 8703 category (including CKDs) vide Circular No. 09 of 2022 dated May 20, 2022.
READ MORE: Suzuki Motors warns plant shutdown in Pakistan
“Restriction had adversely impacted clearance of import consignment which resultantly affected the inventory levels,” it added.
The company further stated that due to shortage of inventory level, the senior management of the company had decided to temporarily shut down its production plant of automobile products from August 18, 2022 to August 19, 2022.
However, motorcycle plant will remain operative, the company added.
