Pak Suzuki Motor Company Limited has once again announced closure of automobile and motorbike plants due to low inventory supply, reported 24NewsHD TV channel on Tuesday. 

Through a letter sent to Pakistan Stock Exchange (PSX, the Pak Suzuki said that due to shortage of inventory level, the management of the company has decided to shut down motorcycle and automobile plants from November 1 to 3 and October 30 to November 3, respectively.

Pak Suzuki said that the company’s imports adversely impacted clearance of import consignment which consequently affected inventory levels.

In the fiscal year 2022-2023, due to a challenging environment, low consumer purchasing power, and an increase in duties and taxes by the government, the demand for the auto sector has continuously declined.

 

Reporter Ashraf Khan