According to the company’s statement on PSX today, Ghandhara Nissan Limited (PSX: GHNL), a major automaker in Pakistan, shut down its facility from March 6 to March 10 due to a scarcity of raw materials brought on by import restrictions enforced by the State Bank of Pakistan (SBP).
The company has stated that the supply chain has been badly affected as a result of its vendors’ struggles in importing raw materials and obtaining clearance for their shipments from commercial banks.
Commercial banks are encouraged to prioritize/facilitate imports to only key sectors, which excludes the car sector, in light of the recently implemented methodology via EPD Circular No. 20 of 2022 dated December 27, 2022 (effective from 2nd January 2023).
