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KARACHI: Pak Suzuki Motor Company Ltd (PSMCL) said on Monday that it will continue to cease manufacturing from January 2–6, 2023 due to a lack of completely knocked down (CKD) kits.
Contrary to previous practice, the business said that its two-wheeler assembly factory will also be shuttered at this time.
The company claimed in a stock filing on Monday that the State Bank of Pakistan‘s introduction of a prior approval mechanism for imports under the HS Code 8703 category (including CKDs) on May 20 had negatively impacted the clearance of imported consignments and consequently had a negative impact on inventory levels.
Due to a shortage of completely knocked-down (CKD) kits, Pak Suzuki Motor Company Ltd (PSMCL) announced on Monday that it will continue to halt production from January 2–6, 2023.
