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Pak Suzuki shuts down motorcycle plant for 15 days

11:24 AM | 1 Aug, 2023
Pak Suzuki shuts down motorcycle plant for 15 days
Source: File photo

KARACHI – The Pak Suzuki Motor Company (PSMC) has faced yet another setback, being compelled to suspend its motorcycle plant operations for a minimum of 15 days.

This decision comes in response to an ongoing shortage of raw materials, which the company officially communicated via a statement released to the Pakistan Stock Exchange (PSX) on Monday.

From July 31, 2023, to August 15, 2023, the motorcycle plant will remain inactive due to the scarcity of inventory levels, while the automobile plant will continue its regular operations.

This recent shutdown follows a previous closure earlier in July when both the motorcycle and automobile plants were shut down until July 19. The closure was extended from the previous month.

Since July of the previous year, the company has been grappling with a persistent shortage of raw materials, mainly attributed to challenges in importing these crucial components caused by a reduction in the nation’s foreign exchange reserves.

Pak Suzuki is not the only automaker affected by these interruptions. Honda Atlas Cars and Indus Motor Company, which manufactures Toyota cars in Pakistan, have also experienced several recent shutdowns due to the shortage of essential raw materials.

The scarcity has even impacted automotive parts manufacturers, compelling them to temporarily halt their production lines.

Daily Pakistan Global Web Desk

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Currency Rates in Pakistan - Pak Rupee to US Dollar, Euro, Pound, Dirham, Riyal - 25 June 2024

Pakistani rupee rates against US Dollar and other currencies on June 25, 2024 (Tuesday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 277.5 for buying and 280.65 for selling.

Euro's buying rate stands at 293.5 and selling rate is 297.2 while British Pound rate is 348.5 for buying, and 351.45 for selling.

UAE Dirham AED was at 75.05 and Saudi Riyal at 72.95.

Currency Rates in Pakistan

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.5 280.65
Euro EUR 293.5 297.2
UK Pound Sterling GBP 348.5 351.45
U.A.E Dirham AED 75.05 75.85
Saudi Riyal SAR 72.95 73.85
Australian Dollar AUD 182.2 184
Bahrain Dinar BHD 740.58 748.58
Canadian Dollar CAD 203 205
China Yuan CNY 38.35 38.75
Danish Krone DKK 39.91 40.31
Hong Kong Dollar HKD 35.67 36.02
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.9 1.98
Kuwaiti Dinar KWD 907.74 916.74
Malaysian Ringgit MYR 59.07 59.67
New Zealand Dollar NZD 170.38 172.38
Norwegians Krone NOK 26.38 26.68
Omani Riyal OMR 723.26 731.26
Qatari Riyal QAR 76.5 77.2
Singapore Dollar SGD 72.95 73.85
Swedish Korona SEK 26.5 26.8
Swiss Franc CHF 311.53 314.03
Thai Bhat THB 7.58 7.73

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