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Pakistan's biggest firms halt operations amid raw material, forex shortage

Pak's $3.19 bn in foreign currency reserves mean that the nation is unable to fund imports, stranding thousands of containers of supplies on its ports and stalling production, putting jobs at risk

Photo: Bloomberg
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Photo: Bloomberg

Ismail Dilawar | Bloomberg
A bunch of Pakistan’s biggest companies have halted operations in the past months as they ran out of raw materials or foreign exchange, or both, compounding the troubles of an economy that’s trying to avert a debt default.
 
The local unit of Suzuki Motor Corp. extended the shutdown of its manufacturing plant to Feb. 21, according to a statement to the stock exchange on Friday, saying that parts shortages are persisting.

Ghandhara Tyre & Rubber Company, which manufactures tires and tubes for automobiles, had shut its plant from Feb. 13, saying it’s facing “immense hurdles towards importing raw materials and

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First Published: Feb 18 2023 | 8:06 AM IST

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