Pak Suzuki extends closure of bike plant
Business
Shortage of inventory level remains the major reason
KARACHI (Web Desk) - The Pak Suzuki Motor Company (PSMC) has decided to extend the shutdown of its motorcycle plant till June 16, citing the government policies as major reason for the extension.
“Due to shortage of inventory level, the company's management has decided to shut down motorcycle plant from June 12, 2023 to June 16, 2023,” a notice shared with the Pakistan Stock Exchange read.
Earlier, the PSMC on May 22 had announced its decision to shut the motorcycle production plant until June 10.
“The decision was made due to the ongoing government import restrictions that have affected the auto sector, causing a shortage of inventory,” it had said.
According to the notice, owing to shortage of inventory level the company's management has decided to shut down motorcycle plant from May 23, 2023 to June 10, 2023. However, the automobile plant will remain operative, it added.
The leading automobile giant had earlier shut both its automobile and motorcycle plants till May 9 due to a lack of raw material. The company had also closed down the automobile plant from April 7 to April 28.
