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.
The company shared the development in its notice to the Pakistan Stock Exchange (PSX).
“Due to continuing reduced demand of tractors and cash flow constraints, the Company will remain closed from Friday, January 06, 2023 till further notice,” read the statement.
The development comes as dozens of companies in recent weeks have announced either a shutdown or reduction in operations in Pakistan owing to reduced demand, inventory shortage, energy crunch and supply chain disruptions.
