Baluchistan Wheels Limited (BWHL) announced on Friday that it would extend the stoppage of its production activities till December 30 as economic downturn is still hurting Pakistan’s industrial sector.
BWHL informed the Pakistan Stock Exchange of the development in a notice (PSX).
“In furtherance to our earlier disclosure dated December 09, 2022 regarding the temporary closure of production activities due to drop in our sales order from the OEMs [Original Equipment Manufacturers] owing to depressed demand.”
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“It is hereby informed that closure of production activities of the company shall continue till Friday December 30, 2022,” said the notice.
Earlier this month, the management of BWHL decided to temporarily close or stop production activity due to the depressed demand for autos in the market, from December 12, 2022, till December 23, 2022.
“The company is facing a drop in sales orders from the OEMs,” said the company, which is engaged in manufacturing and marketing automotive wheel rims for trucks, buses, tractors, cars and mini commercial vehicles.
Experts attributed the development to high auto prices, which has crashed demand, leaving companies under pressure.
