Honda Atlas extends the longest plant shutdown by 15 days in Pakistan.
Honda Atlas company cited the ongoing economic crisis in the nation. The inability to open letters of credit for imports, and the suspension of international payments as reasons.
On March 8, the business announced a temporary stoppage that was supposed to last until March 31.
According to Honda, Pakistan’s economic difficulties have affected its supply chain.
The company, a division of Japan’s Honda Motor Co Ltd. Stated in a notice to the Pakistan Stock Exchange that it was “not in a position to continue with its production. Therefore, has continued to shut down its facility from April 01, 2023 to April 15, 2023.”
Due to Pakistan’s economic problems, which have seen the central bank foreign exchange reserves drop to a level barely able to cover four weeks of imports. Other listed automakers, such as Indus Motor Company Limited and Pak Suzuki Motor Company, have also been forced to halt production for the last three quarters.
