Pak Suzuki Motor Company (PSMC) has announced another round of non-production days (NPDs) due to ongoing operational issues.
In an official notice to the Pakistan Stock Exchange (PSX), the company cited a lack of inventory as the cause for the shutdown of its car and bike assembly plant from June 22 to July 8, 2023.
The notification reads:
Suzuki, which is Pakistan’s largest carmaker by production and sales volume, has sustained heavy blows lately due to poor sales, price hikes, tax rate hikes, and import restrictions, the bane of all auto-industry.
Last week, due to a lack of inventory, the company suspended motorcycle assembly for 5 days — from June 12 to June 16.
Earlier this month, Suzuki sent a letter directly to the interim Prime Minister Shahbaz Sharif bringing the abysmal situation of the car industry to his attention.
The letter read:
Here, we would like to bring to kind notice that PSMC is going through the very worst of times in its history of about 40 years. The company has already suffered huge losses of Rs. 12.9 billion in the first quarter of the current year due to current economic uncertainties. The company is also observing many “No Production Days” every month throughout the year. In addition to this, our dealers and vendors are also suffering very badly due to the current economic and business situation, as some of them are already closed and many more are on the bring of closure.
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