LAHORE MIRROR — The Pak Suzuki Motor Company (PSMC) announced extension in the shutdown of its motorcycle plant till September 15, citing shortage of inventory.
In its notice to the Pakistan Stock Exchange (PSX) on Thursday, PSMC said: “Due to shortage of inventory level, the management of the company has decided to extend the shut-down of motorcycle plant till September 15, 2023.”
Earlier, the automaker announced to close its motorcycle plant from September 01 to September 12.
Meanwhile, the automobile plant will remain operative.
During the ongoing year, the Japanese automaker has announced shutdowns over a dozen times. Last month, it said it would keep its motorcycle plant shut till August 31.
Citing a drop in sales and high finance costs, the company announced losses to the tune of Rs9.68 billion in the first six months of FY2022-23.
