Karachi July 29 2022: Due to unforeseen devaluation of the Pakistani Rupee, coupled with the Government restrictions, including the LC approval constraints rendering it impossible to import CKD kits without prior permission, and the continuing economic instability, the Company is facing hurdles in import of CKD kits and components which is adversely affecting the supply chain and production activities.
The aforesaid delay and unforeseen factors have resulted in insufficient inventory levels as would be required to maintain further production. The situation is forcing the company towards a temporary production shutdown and closure of the Company’s plant.
In the light of above, the Company has today decided to temporarily shut down its production plant from August 1, 2022 to August 13, 2022.
