Lahore August 30 2022: Pakistan largest tractor manufacturer closed its production operations due to disruption in supply chain caused by floods.
In company’s filing to the exchange the Millat Tractor stated, “Tractor deliveries have been affected due to damaged road infrastructure in view of devastating floods all over Pakistan. Resultantly, considering the inventory situation, it is informed that the Company will keep its production operations closed from Wednesday, August 31, 2022 till September 16, 2022.”
Early estimates put the damage from Pakistan’s recent deadly floods at more than $10 billion, its planning minister said on Monday, adding the world has an obligation to help the South Asian nation cope with the effects of man-made climate change.
Unprecedented flash floods caused by historic monsoon rains have washed away roads, crops, infrastructure and bridges, killing at least 1,000 people in recent weeks and affecting more than 33 million, over 15% of the country’s 220 million population.
Millat Tractors Limited is a public limited company and was incorporated in Pakistan in 1964 under the Companies Act, 1913 (now the Companies Act, 2017). The Company is principally engaged in assembling and manufacturing of agricultural tractors, implements and multiapplication products. The Company is also involved in the sale, implementation and support of IFS applications in Pakistan.
