Suzuki suspends car, bike mfg in Pakistan
The Suzuki Motor Company Ltd (PSMC) has decided to keep its car and bike plants in Pakistan closed from June 22 to July 8 due to import restrictions and its impact on parts and accessories, according to a media report on Tuesday.
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Karachi: The Suzuki Motor Company Ltd (PSMC) has decided to keep its car and bike plants in Pakistan closed from June 22 to July 8 due to import restrictions and its impact on parts and accessories, according to a media report on Tuesday.
The move by the Japanese auto major comes merely a week after it started operations at its four-wheeler unit in Pakistan that was shut for over 75 days, it said.
The company in a statement to the Pakistan Stock Exchange on Monday said it was suspending production due to a shortage of parts and accessories because of a mechanism introduced in May last year by Pakistan's central bank, the Dawn News reported.
The State Bank of Pakistan (SBP) in May last year asked companies to take prior approval for the import of completely knocked-down kits, which had adversely affected the clearance of consignments, thus affecting inventory levels.
