Pakistan’s automaker Honda Atlas Cars (Pakistan) Limited (HCAR) has temporarily shut down its plant from March 9 to 31, citing supply chain disruptions.
The business informed the Pakistan Stock Exchange of its choice in a notification (PSX).
The notice stated that the company’s supply chain had been severely disrupted by the government’s measures, which included restricting the opening of Letters of Credit (LCs) for the import of CKD kits and raw materials as well as stopping foreign payments, due to Pakistan’s current economic situation.
As a result, the company is unable to maintain manufacturing and will finally have to shut down its plant between March 9 and March 31, 2023, according to Atlas Honda.
Pak Suzuki extends plant closure
It is important to note that Pakistan’s auto industry is still struggling, with several automakers recently declaring full or partial shutdowns and citing a variety of reasons.
Pak Suzuki Motor Company Ltd (PSMCL) has announced the closure of a facility because of insufficient inventory.
