Indus Motor Company’s Plant Shutdown

News Desk1 month ago

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 further stated, “Any changes to the plan will be updated accordingly.”  The first announcement of Indus Motor’s production closure for 2024 has been made.

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Due to problems with the supply chain, Indus Motor Company Limited closed its plant 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.

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