International Politics

Pakistan: Another Firm Shuts Down Due To Import Ban

pakistan

After Pak Suzuki Motor Company Limited, engineering services company KSB Pumps Company Limited also announced that the production plant would shut down due to an import ban

Islamabad [Pakistan]: After Pak Suzuki Motor Company Limited, engineering services company KSB Pumps Company Limited also announced that the production plant would shut down due to an import ban, ARY News reported.

KSB Pumps company announced that it will shut down its Hasanabdal production plant in Pakistan. The Frankenthal-based multinational engineering services company, KSBP, is a subsidiary of KSB SE and Co. KGaA is a manufacturer of industrial pumps, valves, castings and related parts and after-market services, according to ARY News.

The company, in the statement, said that this will be a temporary suspension till further notice, due to import restrictions. The company will resume operations as soon as the market situation improves and staff may be readily recalled on short notice, it read.
Earlier, an automobile company, Pak Suzuki Motor Company Limited, announced to shut down its production plant from January 2 to 6.
Pakistan Suzuki Motors wrote a letter to the Pakistan Stock Exchange (PSX) that the production process of cars and motorcycles will be completely shut down from January 2 to 6, according to ARY News.

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According to the automobile company, the management decided the shut down due to conditional permission for the imports of the auto parts and completely knocked down (CKD) kits. The firm stated that its supply chain is affected due to the State Bank of Pakistan (SBP) restriction.

The company further added that the restrictions are affecting the export consignments
In December, another automobile firm, Indus Motor Company (IMC), announced to shut down its manufacturing plant for 10 days due to the ban on imports of completely knocked down (CKD) kits by the central bank.

The Indus Motor Company, the maker of Toyota vehicles, has announced the ban on their manufacturing plant from December 20 to 30. It stated that the decision was taken after a ban on the imports of completely knocked down (CKD) kits by the State Bank of Pakistan (SBP), ARY News reported.

(Except for the headline, this story has not been edited by HW News staff and is published from a syndicated feed.)

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The ministry believes these sites have good potential for recreation and will, in turn, generate employment for locals. Mudwani Dam Eco-park, developed by Northern Coalfields Limited in Singrauli, and AnanyaVatika Eco-Restoration Park cum Pit Lake developed by South Eastern Coalfields Limited in Dola, in Madhya Pradesh, are unique examples of such initiatives.
Mudwani Dam Eco-park in Singrauli is a peaceful place endowed with natural beauty, and yet not too far from the hustle and bustle of the city. Located in the Jayant area, it has a beautiful waterfront, walking pathways, a childrenโ€™s sports area, and restaurants. Besides, shops for local products are also part of this eco-park. It also has a dedicated lake view seating area to relax.

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The spectacular Mudwani Dam Eco-park has an average yearly footfall of 25,000.
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(Except for the headline, this story has not been edited by HW News staff and is published from a syndicated feed.)

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