Pak Suzuki Motor Company (PSMC) has announced a production suspension for three days in October 2022. It made the announcement at Pakistan Stock Exchange (PSX) on Tuesday, notifying alternate non-production days (NPDs) from October 19 to 21.
PSMC blames State Bank of Pakistan’s new mechanism that requires CKD import approval beforehand. It states that the mechanism has slowed down CKD kit imports, causing the inventory to run out.
An official statement reads:
Due to shortage of inventory levels, the company management had decided to shut down the automobile plant from October 19, 2022 to October 21, 2022. Further update in this regard, if any, will be communicated accordingly.
Last month, PSMC observed 12 NPDs while Toyota Indus Motor Company (IMC) saw 14 NPDs. Likewise, Hyundai Nishat and Honda Atlas also paused production due to the inventory shortfall.
The federal government’s sanctions on automotive imports brought the auto industry’s progress to a screeching halt. Experts reckon that the auto sector will continue to suffer the effects of inflation and production cuts despite the import ban relaxation.
Every Launch Delay
In the 2022 Pakistan Auto Show (PAS), PSMC displayed several new cars including the 2022 Suzuki Every Wagon — a microvan that, a company representative confirmed, will replace the aging Bolan. However, as per a reliable source, the company’s latest plans suggest that Every’s launch may not happen soon.
The source added that around PAS 2022, the company’s plan was to launch the new Every this year. However, PSMC has scrapped those plans due to the ongoing economic and political turmoil in the country.
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