Karachi: Pak Suzuki Motor Company (PSMC) notified again that it will extend its plant shutdown from January 9, 2023 to January 13, 2023. In notice to Pakistan Stock Exchange (PSX), company said, “In accordance with Section 96 and 131 of Securities Act 2015 and clause 5.6.1 (a) of PSX Regulations and further to our letter December 26, 2022 on above subject, kindly note that due to continued shortage of inventory level, management of company has decided to extend shutdown of automobile plant from January 9, 2023 to January 13, 2023.” Pakistan’s industrial pumps manufacturer temporarily shuts operations. “However, motorcycle plant will remain operative. PSMC announced temporary shutdown of its plant for automobiles and motorcycles from January 2 to 6. Pakistan’s auto industry, highly dependent on imports has been caught in midst of crisis. Other firms in automobile sector that shut down operations are Indus Motor Company and Baluchistan Wheels Limited.

Major textile firms including Nishat Chunian, Kohinoor Spinning Mills Limited and Suraj Cotton Mills Limited have announced to limit their operations as well.

Published in The Daily National Courier, January, 07 2023

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