Pak Suzuki Motor Company (PSMC) has decided against resuming production at its car plant as per the schedule announced earlier this month.
In a notification, the auto manufacturer said that its management has decided to shut down the automobile plant from November 9 to November 14. “However, the motorcycle plant will remain operative,” it added.
It is pertinent to mention that it’s the third extension the company has announced in the last few weeks, citing a shortage of inventory. Earlier, they had decided to close the automobile plant from November 6 to November 8.
It can’t be entirely ruled out that the Japanese automaker will announce another extension in its production shutdown schedule after November 9.
In another significant development recently, the company’s Board of Directors (BoD) decided to delist from the PSX and acquire all of its remaining shares.
On the other hand, Honda also informed the Pakistan Stock Exchange that its plant will be shut down for longer, from November 8 to November 9.