Over the last week, we have seen multiple car companies close down their operations for the duration of the lockdown. Millat Tractors has followed suit and has announced that they are halting their operations nationwide because of the coronavirus outbreak and the current lockdown.
Initially, the pandemic had forced Toyota Indus to postpone the launch of their new car, the Yaris, but since then multiple car makers have announced stopping operations including Toyota, Honda, Suzuki, FAW, JW Forland, Regal and United.
Millat has written a letter to the Pakistan Stock Exchange (PSX) in which they have announced that they are closing their plant along with the suspension of all its office operations at least till the duration of the lockdown order by the government. Interestingly, they haven’t announced an exact date as to when they will re-open the plant.
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