Karachi: Pakistan’s auto assembler Honda Atlas Cars (Pakistan) Limited (HCAR) said its plant, which has been shut since start of March, will remain closed until April 15 due to supply-chain disruptions.

Company announced its decision in notice to Pakistan Stock Exchange (PSX). “Further to our letter March 8, 2023 and considering current economic situation of Pakistan whereby government resorted to stringent measures including restricting opening of LCs (Letters of Credit) for import of CKD (Completely Knocked Down) kits, raw materials and halting foreign payments, company’s supply chain has also been severely disrupted by such measures,” read notice.

“As result, company is not in position to continue with its production and ultimately has continued to shut down its plant from April 1, 2023 to April 15, 2023.” Earlier this month, HCAR, unit of Japanese car giant Honda Motor Co Ltd said its plant would be shut from March 9 to March 31.

Pakistan’s auto sector remains engulfed in various crises, with number of automakers such as Indus Motor Company Limited and Pak Suzuki Motor Company also forced to halt production during recent months.

Published in The Daily National Courier, March, 31 2023

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