KARACHI – Pak Suzuki Motor Company (PSMC) said on Tuesday that it would halt its motorbike manufacturing facilities until June 10 as the nation’s economic condition worsens.
The Pakistan Stock Exchange (PSX) received notification of the news. It said that the continuous import restrictions by the government, which have had an impact on the car industry and led to a lack of inventories, were the reason for the decision.
The notification states that the company’s management has chosen to close the motorbike facility from May 23, 2023, to June 10, 2023, due to a low inventory level. The vehicle factory, however, will continue to run, it was noted.
Due to a shortage of raw materials, the major automotive manufacturer had already closed both its vehicle and motorbike plants until May 9. Additionally, the business shut down its vehicle manufacturing from April 7 to April 28.