Karachi December 26 2022: Pak Suzuki Motor Company Limited shut down its manufacturing plant for a period of five days due to shortage of inventory according to company filing 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 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.
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