Suzuki: Citing import restrictions in Pakistan, Suzuki Motor Company Ltd (PSMC) decided to shut its car and bike plants in Pakistan from June 22 to July 8, Company said in a statement to the Pakistan Stock Exchange.
According to the company, the decision was taken due to a shortage of spares and accessories.
Recently, Suzuki restarted its four-wheeler production unit which was closed for 75 days, but now the plant is being shut down by Suzuki Motor again. The Company has been facing challenges to import parts that led to the closure of the Plant.
In May 2022, the State Bank of Pakistan (SBP) ordered companies to obtain prior permission to import completely knocked-down kits. This policy had a negative effect on the clearance of shipments, which in turn affected inventory levels.
Additionally, Suzuki Motor has been grappling with a persistent shortage of raw materials for almost a year now. As a result, their four-wheeler plant, known as PSMC, remained shut for a period of 75 days from August 2022 till June 19.