Pak Suzuki Motor Company (PSMC) has declared additional non-production days (NPDs) for January 2023 as a result of ongoing operational issues.
According to a recent statement, the State Bank of Pakistan’s (SBP) limitation on vehicle imports would cause the firm to suspend its manufacturing and assembly activities from January 16–20, 2023.
The firm claims that because the letter of credit was previously denied, it has been difficult for them to import knockdown kits, which has led to inventory issues.
For regional auto assemblers, the State Bank of Pakistan (SBP) has loosened import restrictions on Completely Knocked down (CKD) kits. With this choice, the car industry’s output and sales may be stabilized.
Analysts predict that automobile sales will remain weak for the duration of FY 2022–23 owing to the current circumstances. They predict that the government would not prioritize the car sector because there is now a shortage of crucial foreign currency.