Overview
Baluchistan Wheels Limited (BWHL) is a manufacturer of an automobile wheels. It manufactures and distributes automobile wheel rims for trucks, buses, tractors, cars, and utility vehicles. It stated earlier this month that it will discontinue manufacturing.
Baluchistan Wheels Ltd (BWHL) said on Friday that production will suspend till January 6, due to low demand.
BWHL the manufacturer of automobile wheels has shared the complete development statement of the Pakistan stock exchange (PSX).
Statement BWHL Wheels Manufacturer
“As previously stated, in letters of December 9, 2022, and December 23, 2022, we are temporarily stopping manufacturing operations due to a decline in our sales orders from OEMs [Original Equipment Manufacturer] due to low vehicle demand. It is also said that the company’s manufacturing operations would be suspended until Friday, January 6, 2023”
Similarly, according to an inventory shortage, Pak Suzuki Motor Company Limited (PSMCL) has chosen to close its manufacturing for both cars and motorcycles from January 2, 2023, to January 6, 2023.
Meanwhile, Indus Motor Company (IMC), a Toyota-brand automotive assembler in Pakistan. Announced a permanent suspension of its production facilities from December 20 to December 30, citing delays in import permits.
The SBP has restricted the creation of letters of credit (LCs) in reaction to the rupee’s steady devaluation. Placing the nation’s auto industry which is heavily dependent on imports in a difficult spot.
Is There Hope?
The country’s automotive sector, which is heavily reliant on imports, has been caught in a problem, with the SBP imposing limitations on the issue of Letters of Credit following relentless currency devaluation (LCs).
