Karachi March 6 2023: Ghandhara Nissan Limited shut its plant for the next five days and decided to operate afterwards on alternate week basis due to raw material availability, according to company filing to the Pakistan Stock Exchange.
The company states, “In light of the recently introduced mechanism vide EPD Circular No. 20 of 2022 doled December 27, 2022, (effective from 2nd January, 2023), Commercial Banks are advised to prioritize / facilitate the imports to essential sectors only, which does not include auto sector. The company and its vendors continue to face major hurdles in import of raw materials and receiving clearance of their consignments from commercial banks.”
“This has disrupted the entire supply chain and the vendors are unable to supply raw materials and components to the Company,” the statement added.
Accordingly, the company has insufficient inventory levels, therefore, the company is unable to continue its production activities on regular basis, In view of the above, the Company has decided to shut down its Plant from 6th March, 2023 to 10th March, 2023.
Moreover, the company has also decided to start its production from 13th March, 2023 on alternative weekly basis until further notice.
Ghandhara Nissan Limited was incorporated on August 8, 1981 in Pakistan as a private limited company and subsequently converted into a public limited company on May 24, 1992. The Company is a subsidiary of Bibojee Services (Private) Limited (BSL). The principal business of the Company is assembly / progressive manufacturing of vehicles including JAC Trucks, import and sale of parts / Nissan, Dongfeng and Renault vehicles in completely built-up condition and assembly of other vehicles under contract agreement.
