According to a business filing on PSX today, Sazgar Engineering Works Limited (PSX: SAZEW), a major automaker in Pakistan, has chosen to temporarily close its four-wheeler plant beginning on February 27, 2023, and ending on March 4, 2023.
The decision was made due to the disruption in the supply chain caused by the government’s strict measures to minimise the import of completely knocked down (CKD) and raw materials for vehicles.
However, the company’s manufacturing facilities for three-wheelers and automotive parts would continue to be open throughout this time. SAZEW is dedicated to maintaining the uninterrupted manufacturing and supply of these goods.
The management of the firm has promised its shareholders and other interested parties that it will swiftly advise the Pakistan Stock Exchange on any further developments in the case.
In Pakistan’s automotive industry, SAZEW has played a significant role in creating high-quality cars and auto parts for both the domestic and global markets.
Sad to hear that, current govt. is totally responsible for these such ends.