Pak Suzuki Motor Company Ltd (PSMCL) has extended its plant shutdown to September 8-9 due to low inventory supply, it said in a Pakistan Stock Exchange filing on Friday.

However, its motorcycle plant will continue to operate.

In the filing, the company said the State Bank of Pakistan’s condition requiring prior approval for the import of specific HS codes, including completely knocked down (CKD) kits, had “adversely impacted clearance of import consignment which resultantly affected inventory levels”.

Consequently, the company decided to extend its automobile plant shutdown to Sept 8-9, it said.

Last month, the company had kept its plant shut from Aug 18-19, Aug 22-26 and Aug 29-31.

The company recently resumed the booking of a few four wheelers models after suspending it from July 1 onwards.

The government had imposed a ban on the import of non-essential and luxury items under an “emergency economic plan” in May. The ban was subsequently lifted in August but Finance Minister Miftah Ismail had said the automobile sector, among others, would only be allowed to import half of what it used to earlier for some time.

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Ghastly attack
Updated 12 Oct, 2024

Ghastly attack

Duki attack comes at a time when Pakistan’s foreign friends are looking to make major investments in the country, while SCO moot kicks off next week.
Saudi investments
12 Oct, 2024

Saudi investments

THE Saudi investment commitments to Islamabad seem to be taking tangible shape after months of uncertainty around...
Into the abyss
12 Oct, 2024

Into the abyss

THE Pakistan cricket team continues to set unwanted records. On Friday, Shan Masood’s men became the first team in...
Disaffected voices
11 Oct, 2024

Disaffected voices

A FRESH stand-off is brewing between the state, and the recently banned PTM, principally over the tribal jirga that...
Joint anti-smog steps
11 Oct, 2024

Joint anti-smog steps

CLIMATE change knows no borders. Hence, much of the world is striving to control the rapidly rising global...
Agri taxes
11 Oct, 2024

Agri taxes

IT is not a good omen that reforms are once again being delayed. According to the finance minister, a new tax regime...