KARACHI: A day after Indus Motor Company Ltd and Millat Tractor Ltd announced production shutdowns owing to parts shortages and delivery disruptions caused by flood devastation across the country, two more companies have declared their inability to keep operating their plants amid unfavourable economic conditions.

The country’s largest producer of steel bars, Amreli Steels Ltd, said on Wednesday it’s decided to shut down its plants for 20 days owing to low demand of steel rebars in the country. It blamed unprecedented monsoon rains and flash floods across the country for its decision to shut down production.

As a result, the company will carry out no manufacturing from Aug 31 to Sept 19. “The resumption of operations or further extension in production suspension (as the case may be) will be communicated accordingly,” it said.

Separately, Bolan Castings Ltd — a subsidiary of Millat Tractors Ltd that manufactures and sells casting for tractors and automotive parts — told investors on Wednesday it’s decided to “temporarily halt” production from Sept 1 to 13.

“In view of the devastating flood, the road and farm infrastructure of the country has been badly damaged due to which the tractors’ deliveries have been adversely affected. This has, in turn, drastically reduced the demand for our tractors’ castings,” it said.

Published in Dawn, September 1st, 2022

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