Indus Motor Company to temporarily halt production due to supply chain issues

Indus Motor Company Limited has announced a temporary closure of its production plant from July 15, 2024, to July 22, 2024, due to ongoing supply chain challenges. 

In accordance with Sections 96 and 131 of the Securities Act 2015 and Clause 5.6.1 (a) of PSX Regulations, Indus Motor Company conveyed this information through a notice to the Pakistan Stock Exchange (PSX). 

“Based on the current low level of inventory of manufactured vehicles and shortage of parts and components for manufacturing of vehicles, due to supply chain challenges, the Company has decided to close its production plant from 15th July 2024 to 22nd July 2024 (both days inclusive). In case of any change in the plan, we will update accordingly,” read the notice.

The decision was made in response to a low inventory level of manufactured vehicles and a shortage of parts and components needed for vehicle production.

The company has stated that any changes to this plan will be communicated promptly.