KARACHI: Pak Suzuki has added two more days to the closure of its auto manufacturing facility, although the motorbike manufacturing facility will continue to run normally.The corporation announced on Friday that it would continue to halt operations for two additional days, from September 8 to 9.
According to the business, a system for prior clearance for imports within the HS code 8703 category has been introduced by the State Bank of Pakistan (including CKDs).The vehicle manufacturing company claimed that limitations “adversely impacted clearance of import consignment, which ultimately harmed the inventory levels.
“Indus Motors, the business that makes Toyota cars in the nation, has also prolonged the close of plant production until later this month in addition to the shutdown at Pak Suzuki.The government chose to enforce an import embargo four months ago, but eventually reversed it in accordance with the International Monetary Fund’s (IMF) requirements, which caused the enterprises to suffer.
Even though the rupee was under less pressure and the current account deficit shrank, businesses that depend on imported goods to finish their products took a serious hit.
