KARACHI: The Indus Motor Company on Monday said that it will keep its plant shut for two days (Thursday-Friday) this week due to delay in arrival of parts owing to congestion at ports in Singapore

All shipments coming via Singapore are still getting delayed by 15-20 days, CEO Ali Asghar Jamali told Dawn on Monday, adding “we are also importing parts via air route to avoid any delay in production of vehicles as the plant is already operating on double shift from September.”

Meanwhile, the Honda Atlas Cars Ltd (HACL) is yet to take a decision on shutting down its plant. HACL executive said that “parts supply is disturbed but the company is managing somehow by paying extra amount to shipping companies.”

Four-star hotel for Kaghan planned

The Hashoo Group on Monday announced that it plans to build a hotel in the upper Kaghan valley of Naran, Khyber Pakhtunkhwa.

A memorandum of understanding was signed between the Pakistan Services Limited and SNQ Resorts (Pvt) Limited.

Silkbank posts Rs151m profit

Silkbank Ltd recorded profit after tax at Rs151 million and earning per share at Rs0.02 for the nine months ended Sept 30, 2020, which showed a turnaround from after tax loss of Rs2.77 billion and loss per share at Rs0.30 incurred in the comparable nine months of 2019.

The bank posted operating profit at Rs3.41bn against operating loss of Rs2.54bn year on year.

Published in Dawn, December 1st, 2020

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