Indus Motor Halts Production on Supply Chain Woes

Indus Motor Company Limited (PSX: INDU), a leading automobile manufacturer in Pakistan, announced today that it will temporarily halt its production operations from March 6, 2024, to March 11, 2024. The company cited low inventory levels of finished vehicles and supply chain disruptions of parts and components as the main reasons for the closure.

The company said that it will keep the stakeholders informed of any changes in the plan and resume production as soon as possible.

The company had faced a similar situation in October 2023, when it had to shut down its production plant for a month due to the same issues.

The share price of the company increased by 0.36% to Rs1,559 at the end of trading today.