Tag: raw materials
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Pakistan’s merchandise exports dive for ninth consecutive month, drop by 16.69% in May
Pakistan’s merchandise exports continue to decline for the ninth consecutive month, plunging by 16.69 per cent year-on-year to $2.18 billion in May, according to data released by the Pakistan Bureau of Statistics.
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Pak Suzuki extends shutdown of motorcycle plant due to lack of raw materials
The Pak Suzuki Motor Company (PSMC) has confirmed that it will keep its motorcycle plant closed until April 28 due to ongoing import restrictions that have impacted the auto sector, resulting in low inventory levels. A notice to the Pakistan Stock Exchange (PSX) stated that “the management of the company has decided to extend the…
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‘Insufficient inventory levels’ force Toyota IMC to suspend car production for two weeks
Due to the continuing economic crisis, Pakistan’s automobile industry is struggling much like all other businesses. In the most recent development, Toyota Indus Motor Company (IMC) has temporarily halted automobile production. Non-production days (NPDs) will be observed by the automaker from February 1 to February 14, 2023. Due to limited supply, the corporation will also…
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Pakistani mobile manufacturing businesses are laying off workers due to economic challenges
There has been significant upheaval in the economy as a result of the new tax structure, rising inflation, and the power shortage. The Samsung mobile factory, which is owned by Lucky Motors, experienced a similar situation when it had to lay off a number of employees because Pakistan was short on raw materials. In addition…
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PM Shehbaz directs to eliminate taxes on raw materials used by export industries
Prime Minister (PM) Shehbaz Sharif, urged authorities to abolish all taxes on raw materials used in the export industry and to set up task teams to attract investment in a variety of local industries. The new government has been attempting to put in place a long-term plan to resuscitate Pakistan’s struggling economy, with the premier…