Pak Suzuki Announces Another Plant Shutdown

Pak Suzuki Motor Company (PSMC) has announced another plant shutdown for cars and motorcycles due to low inventory levels.

According to the company’s announcements, the management has decided to shut down its automobile and motorcycle plants from November 1 to 3 and October 30 to November 3, respectively.

The reason behind the decision is the company facing trouble getting import clearance that has affected inventory levels.

The automotive industry has been struggling with several companies facing plant shutdowns and inventory levels due to import restricts.

Furthermore, the matter is made worse due to low consumer purchasing power, increase in price of vehicles, and a hike in duties and taxes by the government, which has lowered the auto sector’s demand even further.

Recently, Pak Suzuki Motor Company (PSMC) decided to delist from the Pakistan Stock Exchange (PSX) after buying all remaining majority shares.

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