Three firms announce temporary shutdowns
KARACHI: Indus Motor Company (IMC) on Friday announced suspension of production from Nov 18 to 20 due to parts shortage.
In a stock filing on Friday, IMC said it is currently experiencing a shortage of raw materials and components, compounded by ongoing supply chain disruptions.
“The company is facing challenges in sourcing the necessary parts, which has impacted its ability to meet production requirements,” it added.
Despite plant closures, sales swelled by 56pc to 8,692 units in 4MFY25 from 5,558 in the same period last year.
Balochistan Glass Ltd (BGL) said that the production at Unit 1, located in Hub District Lasbela, was temporarily suspended due to technical issues. “Production will resume once the technical issues are resolved,” the company announced through a stock filing.
Lotte Chemical informed the PSX of the suspension of plant operations from Nov 16 to Dec 15 to efficiently manage inventory together with planned maintenance shutdown.
Published in Dawn, November 16th, 2024