Pak Suzuki announces plant closure again

Pak Suzuki Motor Company Ltd (PSMCL) has once again declared the temporary closure of its automobile and motorcycle manufacturing plants, citing insufficient inventory supply, as reported by ARY News on Tuesday.

According to Pak Suzuki’s official statement, a scarcity of inventory has prompted the company’s management to schedule plant shutdowns from November 1 to 3 for motorcycles and from October 30 to November 3 for automobiles.

In the statement, Pak Suzuki noted that its import process has been adversely affected, impacting the clearance of import consignments and subsequently affecting inventory levels.

In the fiscal year 2022-2023, the automobile sector has witnessed a consistent decline in demand due to a challenging economic environment, reduced consumer purchasing power, and government-imposed increases in duties and taxes.

It’s worth noting that Pakistan’s auto sector is currently grappling with a range of crises, with numerous car manufacturers announcing either complete or partial shutdowns in recent months, each citing various reasons.