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KARACHI: Pak Suzuki Motor Company (PSMC) on Friday announced to extend the shutdown of its automobile plant from February 20 to February 21 due to inventory shortage caused by import restrictions.
“Due to continued shortage of inventory level, the management of the company has decided to extend the shutdown of automobile plant from February 20, 2023, to February 21, 2023,” read a notice sent to the Pakistan Stock Exchange (PSX).
The note added that its motorcycle plant will remain operational.
Suzuki motorcycles, sedans, pickup trucks, vans, 4x4s, and other vehicles are locally assembled, produced, and marketed by PMSC along with any necessary replacement parts.
Earlier this month, PSMC announced that its plant would be temporarily closed from February 13 to February 17 due to an inventory shortfall.
The State Bank of Pakistan’s (SBP) prior approval system for imports, according to PSMC at the time, “adversely impacted clearance of import consignment, which consequently damaged the inventory levels.”