Pak Suzuki halts production of motorcycles amid dollar crunch

KARACHI – Pak Suzuki Motor Company (PSMC) on Friday announced shutting down its motorcycle plant for 12 days as the company is facing shortage of inventory due to non-issues of letters of credit (LCs) by banks amid dearth of dollars.

In the notice sent to the Pakistan Stock Exchange (PSX), the PSMC said that management has decided to put brakes on the production of the motorcycle from March 20 to March 31 due to a shortage of inventory.

The two-wheeler manufacturer, however, clarified that the automobile plant will remain operative.

Last month, Pak Suzuki announced halting its automobile products for five days (Feb 13 to 17) due to shortage of inventory.