Karachi August 16 2022: Pak Suzuki Motors Limited shut its plant for two days due to lack of manufacturing parts, according to company’s filling to the exchange.
State Bank of Pakistan (SBP) has 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. Restrictions had adversely impacted clearance of import consignment which resultantly affected the inventory levels.
Therefore, due to shortage of inventory level, the senior management of the company has 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. Further update/if any/in this regard will be communicated accordingly.
