Atlas Honda Cars Pakistan has once more extended the closure of its plants, citing the nation’s economic crisis and supply chain disruptions brought on by restrictions on opening Letters of Credit (LC) for imports.
This is the fourth plant closure for the top automaker since the year’s beginning, and production has been halted for the past 50 days. Initially announced on March 8 and later extended to April 15, the shutdown will now last until May 15.
The company once more warned of harsh measures to take against the economic situation that had “severely disrupted” the company’s supply chain in a notice to the Pakistan Stock Exchange. “As a result, the Company is not in a position to continue with its production and has ultimately continued to shut down its plant from May 01, 2023, to May 15, 2023,” the notice states.
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