[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]Honda Atlas Cars Pakistan Ltd announced on Friday a 15-day extension to the country’s longest plant shutdown, citing the country’s current economic crisis, restrictions on opening letters of credit for imports, and a halt in foreign payments.
On March 8, the company announced an initial shutdown that would last until March 31.
Also Read: Honda Pakistan to suspend production in Pakistan
According to Honda, economic challenges in Pakistan have had an impact on its supply chain.
“As a result, the Company is not in a position to continue with its production and ultimately has continued to shut down its plant from April 01, 2023 to April 15, 2023,” the company, a unit of Japan’s Honda Motor Co Ltd, said in a notice to the Pakistan Stock Exchange.
Other publicly traded automakers, such as Indus Motor Company Limited and Pak Suzuki Motor Company, have also been forced to halt production for the last three quarters due to Pakistan’s economic difficulties, which have reduced central bank foreign exchange reserves to just enough to cover four weeks of imports.[/vc_column_text][/vc_column][/vc_row]
