Millat Tractors shut down operations in Pakistan.
ISLAMABAD -- Pakistan's biggest agricultural machinery manufacturer, Millat Tractors Limited, has announced to shut down its operations from January 6 till further notice, citing low demand and cash flow constraints, media reported on Thursday.
According to details, the agricultural machinery manufacturer - Millat Tractors -announced the development in a letter sent to Pakistan Stock Exchange (PSX).
'Due to continuing reduced demand for tractors and cash flow constraints, the company will remain closed from Friday January 6, 2023 till further notice,' the statement added.
The development came as several other companies in recent weeks have announced either a shutdown or reduction in operations in Pakistan owing to reduced demand, inventory shortage, or supply chain disruptions.
Earlier on January 3, KSB Pumps Company Limited (KSBP) shut down its production plant in Pakistan due to the import ban imposed by the federal government.
KSB Pumps Company Limited (KSBP) announced to temporarily suspend its Hasanabdal plant operations...
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