The year has barely started and Suzuki is going to shut down production for the 2nd time. Pak Suzuki Motor Company Ltd (PSMCL) had initially announced to suspend its operations from 2-6 January 2023. However, it has extended its plant shutdown from 9-13 January owing to a shortage of imported parts and accessories.
According to reports, SBP delayed the letters of credit (LC) approval of completely knocked-down (CKD) kit imports. This delayed the production and delivery of automobiles which forced Toyota IMC and other automakers to observe non-production days (NPDs) as well.
Earlier, Millat Tractors Limited, Pakistan’s largest tractor manufacturer, also halted its operations till further notice on account of decreasing demand for tractors and cash flow challenges.
Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) and the Lahore Chamber of Commerce and Industry (LCCI) expressed serious concerns over the suspension of production by Millat Tractors.
PAAPAM Senior Vice Chairman, Usman Aslam Malik, and LCCI President, Kashif Anwar, issued a joint statement, and remarked that the country needs to be rescued before it reaches the “point of no return.” They requested the government and opposition parties to jointly address the country’s dwindling economy.
