The KSB Pumps Company Limited (KSBP) resumes plant operations, 10 days after it announced a temporary closure of its main Hassanabdal factory.
On Monday, the first working day of the New Year, KSB Pumps Company Limited (KSBP) informed the Pakistan Stock Exchange (PSX) of its decision to temporarily halt operations at its Hasanabdal factory.
“KSB Pakistan has temporarily ceased the plant operations at Hasanabdal till further notice w.e.f. January 02, 2023,” the notice stated. Numerous KSBP end customers had to shut down their activities as a result of the import restrictions that were put in place in May of last year following the change in government.
The clearance of consignments of raw materials and parts required for the company’s production operations was also hindered by these restrictions.
According to the corporation, operations will resume as soon as the market scenario improves, and employees are easily recallable at short notice.
KSBP is a significant supplier to many different industries, but since the manufacturing industry recently suffered due to a recession, the company has been having trouble meeting demand. Its key automotive clients, including Suzuki, Millat Tractors, and Indus Motors, have all cut production, citing difficult economic conditions and a lack of market demand.
After a number of non-operational days in 2018, Suzuki announced its first plant shutdown for 2023. In a similar vein, Toyota also stopped producing in December of last year. Balochistan Wheels and Millat Tractors also experienced days when they were not in function.
Kohinoor Spinning Mills temporarily closed down in other industries, citing the biggest crisis the textile industry had to deal with in December. Nearly 25% of Nishat (Chunian) Limited’s manufacturing was shut down last month, another notable textile manufacturer.
The Diammonium Phosphate (DAP) Plant at Fauji Fertilizer Bin Qasim Limited (FFBL) has also been temporarily shut down. The final month of the previous year saw a 40% production decrease at Suraj Cotton Mills as well.