🚗 Auto
Pak Suzuki also ready to stop production of vehicles – News Panda
Pak Suzuki also ready to stop production of vehicles – News Panda
After Toyota, Honda and Kia Lucky Motors, Pak Suzuki is also expected to halt production for a few days next month. According to media reports, top executives of the company have confirmed that they will stop production of the vehicles for a few days in August 2022. The reason for this drastic measure is the ban on LCs by State Bank of pakistan while commercial banks are not opening letters of credit (LCs) and documents for payments (DPs) of CKD kits. Hence, non-availability of kits and raw materials is leading to closure of plants. A company official told the media that Suzuki successfully stopped NPDs during the current month, aiming to deliver orders by June. However, the company believes that it is highly dependent on opening LCs and DPs. Toyota is also ready to stop production. The same announcement has come out from Toyota before the announcement from Suzuki. The company had earlier cited bottlenecks regarding approval of State Bank of pakistan‘s LC for CKD imports as the main reason for the disruption in production. The company experienced two weeks of slow production in June and July, which has also delayed production. In addition, Toyota Indus will refund the advance payments for its cars to customers who cannot wait for the delayed delivery. If the situation persists, Toyota Indus may have to shut down all production operations.
Pak Suzuki also ready to stop production of vehicles – News Panda
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