Karachi: Indus Motor Company Limited has disclosed that it will temporarily suspend operations at its production plant due to a shortage of raw materials and ongoing supply chain issues. This halt is scheduled from September 26, 2024, to September 30, 2024, inclusive, affecting its ability to meet current production demands.

The company, a prominent player in the automotive sector, is facing significant challenges due to low levels of inventory for raw materials and components essential for manufacturing vehicles. These disruptions stem from broader supply chain difficulties, which have now necessitated a halt in production to manage the shortfall effectively.

According to information available from the Pakistan Stock Exchange (PSX), the temporary closure is in compliance with Section 96 and 131 of the Securities Act 2015, along with Clause 5.6.1(a) of the PSX Regulations. The company has communicated this decision to ensure transparency and keep the stakeholders informed as required by regulatory guidelines.

This suspension of operations is expected to impact the company’s production output significantly during the shutdown period, although specific details on the expected financial impact are not disclosed. Stakeholders and certificate holders of the exchange have been advised of these developments.