KARACHI: Pak Suzuki Motor Company Ltd (PSMCL) has extended its plant shut down to Aug 26 from its earlier plan to keep production off from Aug 18-19.
The company in a stock filing on Thursday said the decision was taken due to shortage of inventory. PSMCL said the State Bank of Pakistan’s mechanism for taking prior approval for import under HS Code 8703 category including completely knocked down (CKD) kits vide circular issued on May 20, 2022 had adversely impacted clearance of imported consignments, thus affecting inventory levels.
The two-wheeler assembly plant would remain operative, the company said.
Published in Dawn, August 19th, 2022