From March 6 to March 11, 2024, Indus Motor Company Limited will be closed for business. The automaker notified the PSX on Wednesday.
The stock filing said, “The Company has decided to close its production plant from March 6 to March 11, 2024 (both days inclusive), due to supply chain challenges and the current low level of inventory of manufactured vehicles and shortage of parts and components for manufacturing of vehicles.”
It also stated, “Any changes to the plan will be updated accordingly.”
The first announcement of Indus Motor’s manufacturing shutdown for 2024 has been made.
and itDue to problems with the supply chain, Indus Motor Company Limited closed its facility earlier in August and closed it from August 25 to September 06, 2023.
The IMC management announced that its production will be suspended from August 25 to September 6 owing to “delay in opening of Letters of Credit (LC) and inventory shortages” in a letter to the general manager of the Pakistan Stock Exchange (PSX).
As a result, the corporation is unable to maintain its production activities due to inadequate inventory levels.
