Karachi: Deteriorating economic conditions in country continued to bite industries, with several companies announcing they would be halting operations. Khalid Siraj Textile Mills Limited announced that its management has decided to shut mill operations until March 31, citing issues ranging from flash floods devastation to import restrictions in notice disclosure to Pakistan Stock Exchange.

Pak Suzuki announces plant shutdown yet again due to inventory shortage. Inflation has rocketed, rupee has plummeted and country can no longer afford imports, causing severe decline in industry.

Ghandhara Tyre and Rubber Company Limited (GTYR), engaged in manufacturing and trading of tyres and tubes for automobiles and motorcycles also announced will temporarily shut down its production activities on February 13 and resume on February 20.

Published in The Daily National Courier, February, 11 2023

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