Honda Atlas Cars Pakistan Limited (HACPL), one of the leading car manufacturers in Pakistan, has announced the temporary closure of its plant from March 09, 2023, to March 31, 2023.
In a notice sent to the Pakistan Stock Exchange (PSX), the company cited disruptions in its supply chain caused by the current economic situation in Pakistan.
The government’s strict measures, such as restricting the opening of LCs for the import of completely knocked down (CKD) kits and raw materials, and halting foreign payments, have significantly impacted the company’s production capabilities.
The shutdown is expected to affect Honda car production in the region and potentially impact the company’s financial performance.
The closure of HCAR’s plant is also likely to have a ripple effect on the automotive industry in the region, highlighting the challenges faced by businesses in Pakistan due to the current economic situation.
