KARACHI: Honda Atlas Cars (Pakistan) Limited (HCAR) said it is extending plant shutdown plant until April 30 amid restrictions on imports. Automaker has been observing shut down since early March this year.

Company announced its decision in notice to Pakistan Stock Exchange (PSX).

"Considering current economic situation of Pakistan whereby government resorted to stringent measures including restricting opening of Letters of Credit (LCs) for import of Completely Knocked Down (CKD) kits, raw materials and halting foreign payments, company's supply chain has also been severely disrupted by such measures," read notice.

Pak Suzuki Motor Company (PSMC) announced that its motorcycle plant will remain shut until April 28. Decision was made due to ongoing import restrictions that have affected auto sector, causing shortage of inventory.

“Due to shortage of inventory level management of company has decided to extend shutdown period of its motorcycle plant till April 28, 2023,” read notice to Pakistan Stock Exchange.

Published in The Daily National Courier, April, 14 2023

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